Al Tayyar Travel Group notes profit increase

Al Tayyar Travel Group Holding has revealed an increase in profits as part of its preliminary financial results for the period ending 31st December 2014. Print

Net profit during the fourth quarter was reported at 236 million Saudi riyals, with an increase of 13.46% from 208 million riyals during the same quarter of the previous year.

The quarter’s net profit saw a decrease of 3.28% against 244 million riyals in the previous quarter.

The gross profit during the fourth quarter stood at 408 million riyals as compared to 339 million riyals for the corresponding quarter last year, projecting an increase of 20.35%, and an increase of 9.38% against 373 million riyals for the previous quarter.

Earnings per share value also increased to 7.49 riyals from 6.51 riyals in the previous year.

The company attributed the increase in the current quarter to growth in sales by 37% and growth in other operating income by 64%.

 

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