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Saudi’s Al Tayyar Travel Group Q3 Profit Rises 13.5%

Saudi’s Al Tayyar Travel Group Q3 Profit Rises 13.5%

Al Tayyar said quarterly sales rose 22 per cent year-on-year.

Saudi Arabia’s Al Tayyar Travel Group posted a 13.5 per cent rise in third-quarter net profit rise on Thursday, slightly below analysts’ forecasts, as sales increased.

The company made a net profit of SAR244 million ($65.04 million) in the three months to Sept. 30, up from SAR215 million in the prior-year period.

Al Tayyar said quarterly sales rose 22 per cent year-on-year but did not provide further details.

Two analysts polled by Reuters forecast Al Tayyar would make a third-quarter profit of between SAR255 million and SAR262 million.

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