Kingdom Holding Company turned profitable during 2021, achieving profits of 1.017 billion riyals, compared to 1.5 billion losses in 2020.
According to Arabiya Net, the company's revenues increased by 46.5% to reach 1.5 billion riyals, compared to 1.029 billion riyals during the previous year.
The reason for the company achieving net profit during 2021 compared to 2020 is due to the increase in the company's share of the results of the companies invested in the equity method, in addition to the gains from excluding an investment property, as well as Not recording a decrease in the value of the companies invested using equity method, as in the previous year, as well as the increase in hotel and other operating income, and the increase in other gains, as well as the positive decrease from the decrease in the value of financial assets.
This was also attributed to the rise in dividend income, the decrease in general, administrative and marketing expenses, and the decrease in financial burdens, as well as the increase in profit from investments at fair value through profit or loss, although From the lack of gains during the year from excluding a subsidiary as in the previous year, as well as an increase in zakat expense and income tax, as well as an increase in hotel costs and other operating costs, and a decrease in profit from discontinued operations.
On the other hand, the company's board of directors approved the recommendation to distribute cash dividends from the retained earnings during 2022, amounting to 0.28 riyals per share issued for the whole year, amounting to approximately 1.0376 billion SAR for the whole year, representing 2.8% of the nominal value of the share.
