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KHC reports 2.8% rise in 9-month profit

Kingdom Holding Co, the investment firm chaired by Prince Alwaleed, has posted a net income for the nine months ended September 30, 2013 of SR511m, up 2.8% over the SR497m recorded during the same period a year ago, Arab News has reported. Third-quarter net income rose 1% to SR220m, compared with SR218m recorded in the previous quarter. “KHC’s more than $10bn private equity portfolio (locally and internationally) is achieving excellent returns and realising shareholder value,” said Prince Alwaleed.