Riyadh – Mubasher: Kingdom Holding Company (KHC) posted on Thursday its financial results for the fourth quarter of 2015, which reflected a 86% fall in net profit to SAR 38 million, from SAR 266 million in the prior-year period.
FY15 net profit amounted to SAR 707 million, down 19% year-on-year from SAR 869 million.
The profit decline was ascribed by the company to a decrease in revenues as well as the allocation for impairment provisions.
