Prince Alwaleed Bin Talal, with KHC board, during a previous meeting.RIYADH – Kingdom Holding Company (KHC) registered a SR178.9 million ($47.70 million) net profit in the second quarter of this year, an increase of 9.4 percent as compared to the results for the second quarter of 2011, its Chairman, Prince Alwaleed Bin Talal, said in a statement Saturday. The consolidated net income for six months totaled SR279.7 million, which represents an increase of 10.1 percent. "Kingdom Holding's strong results assert our sound investment strategy," Alwaleed said. Kingdom Holding has stakes in some of the world's top companies. Aside from being one of the largest shareholders in Citigroup, it also owns stakes in Rupert Murdoch's News Corp. and microblogging site Twitter. Shadi Sanbar, company's CFO, said: "The second payment of dividends has been deposited in shareholder's accounts and I am confident that the outlook for the company's continuing profitability is very good. He added, "KHC is poised to capitalize on financial and strategic opportunities as they come up." – SG
