943 million riyals profit for Al Tayyar Holding Group
Riyadh-Amlak
Al Tayyar Travel Group Holding announced its preliminary financial results for the period ended December 31, 2013, where the Group's profit increased to SAR 943 million, equivalent to 7.86 riyals per share by the end of 2013, an increase of 25% compared to SAR 755 million for the same period in 2012, with sales growth of 16%, growth in other operating income of 4% and a decrease in bank expenses of 55%.

The increase in the current quarter compared to the corresponding quarter of the previous year is due to sales growth of 20%, the increase (decrease) in the current period compared to the corresponding period of the previous year is due to sales growth of 16%, other operating income growth of 4%, and a decrease in bank expenses of 55%.

The reason for the increase (decrease) during the current quarter compared to the previous quarter of the current year is due to the slight decrease in net profit during the fourth quarter compared to the previous quarter due to the increase in some expense items. Earnings per share is calculated from operating profit, net other expenses and net profit for the current and comparative periods using the number of common shares outstanding during the year ended December 31, 2013 of 120 million shares (December 31, 2012: 120 million shares, adjusted for the effect of the free shares issued on April 2, 2013).