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ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

KHC’s profit vaults by 1,162%

The kingdom will grow at an average rate of 3.2% from 2023-26.
By TRENDS Desk
August 25, 2022 1:57 pm
  • KHC’s revenue more than doubled to $320 million during the same period, thanks to higher hotel and property sales
  • During the first half of the current year,  KHC closed an $3.41 billion investment program, following the sale of shares to the Saudi sovereign wealth fund

Kingdom Holding Company (KHC) has posted a 1,162 percent increase in profit to $1.7 billion in the first half of 2022, up from $134 million in the same period last year.

KHC’s revenue more than doubled to $320 million during the same period, thanks to higher hotel and property sales, according to a bourse filing.

During the first half of the current year,  KHC closed an $3.41 billion investment program, following the sale of shares to the Saudi sovereign wealth fund.

Saudi billionaire Prince Alwaleed bin Talal sold part of his stake in KHC to the Public Investment Fund in a $1.5 billion deal, reducing his interest to 78.13 percent.

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