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2 years ago
Saudi's Al Tayyar Travel Q3 net profit up 8.6 pct on higher sales
October 20, 2015 / 3:20 PM / 2 years ago

Saudi's Al Tayyar Travel Q3 net profit up 8.6 pct on higher sales

DUBAI, Oct 20 (Reuters) - Saudi Arabia's Al Tayyar Travel Group posted an 8.6 percent rise in third-quarter net profit on Tuesday, driven by higher sales.

The company made a net profit of 265 million riyals ($70.7 million) in the three months to Sept. 30, up from 244 million riyals in the prior-year period, according to a bourse filing.

Al Tayyar, whose founder Nasser bin Aqeel al-Tayyar stepped down as vice chairman and managing director on Sept. 1, said quarterly sales rose 8 percent year-on-year thanks to more branches as well as acquisitions.

$1 = 3.7490 riyals Reporting by David French; Editing by Pravin Char

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