Al Tayyar Travel Q1 profit rises 28pc
Riaydh, April 18, 2014
Saudi Arabia's Al Tayyar Travel Group posted a 28.4 percent rise in first-quarter net profit as sales increased and it sold property and equipment.
Al Tayyar made a profit of 280 million riyals ($74.7 million) in the three months to March 31, up from 218 million riyals in the prior-year period, according to a bourse filing.
Bakheet Investment Group forecast Al Tayyar would make a quarterly profit of 246.1 million riyals.
The travel company attributed its profit rise to a 15 percent increase in sales, as well as the 27 million-riyal gain it booked from the sale of property and equipment. - Reuters