Kingdom Holdings saw profits rise by 68 per cent in the second quarter, amid plans to invest $800 million in Egyptian tourism.
According to a statement posted on the Saudi stock exchange, the revenue from the investment firm, owned by Prince Alwaleed bin Talal, grew by 16 per cent.
The firm said the increase came from gains on investments and other income, despite a rise in expenses.
The Saudi Company is another partner in Careem. It invested $62 million in the ride hailing company in June.