Saudi Arabia's Al Tayyar Travel Group has posted a 2.1 per cent rise in first-quarter net profit due to higher sales.

The company made a net profit of SR286 million ($76.3 million) in the three months to March 31, up from SR280 million ($74.6 million) in the prior-year period, according to a bourse filing.

Al Tayyar, which boosted its capital by a third in March through the issuance of bonus shares to support future growth, attributed the profit gain to a 20 per cent year-on-year increase in sales.

The boost in sales were cited to the addition of 30 new branches, after acquisitions were made in the second half of 2014, and after an increase in sales from airline companies they have agreements with, the company said in the filing.-Reuters