Saudi’s Al Tayyar Travel Q4 Net Profit Up 13.5% On Sales Jump
The company made a net profit of SAR236 million ($62.9 million) in the last quarter of 2014.
Saudi Arabia’s Al Tayyar Travel Group posted a 13.5 percent rise in fourth-quarter net profit on Monday as sales jumped.
The company made a net profit of SAR236 million ($62.9 million) in the three months to Dec. 31, up from SAR208 million in the prior-year period.
Al Tayyar said quarterly sales rose 37 per cent year-on-year.
Analysts at Osool & Bakheet Investment Co expected Al Tayyar to make a fourth-quarter profit of SAR237.7 million.
The company made a net profit of SAR1.12 billion in 2014, up from SAR977 million in 2013.