Saudi Al Tayyar Q3 net profit up 13.5pc
RIYADH, October 25, 2014
Al Tayyar Travel Group, a leading travel and tourism company in Saudi Arabia, has posted a 13.5 per cent rise in its third-quarter net profit, slightly below analysts' forecasts, as sales increased.
The company made a net profit of SR244 million ($65.04 million) in the three months to September 30, up from SR215 million ($57.2 million) in the prior-year period.
Al Tayyar said the 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 SR255 million ($68 million) and SR262 million ($70 million).-Reuters