Al Tayyar Travel Group Q1 Profit Rises 28 Pct

April 17, 2014

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Saudi Arabia's Al Tayyar Travel Group posted a 28.4 percent rise in first-quarter net profit on Thursday as sales increased and it sold property and equipment.

Al Tayyar made a profit of SAR280 million riyals (USD$74.7 million) in the three months to March 31, up from SAR218 million in the prior-year period, according to a bourse filing.

The travel company attributed its profit rise to a 15 percent increase in sales, as well as the SAT27 million riyal gain it booked from the sale of property and equipment.