JEDDAH: Saudi Arabia’s Al-Tayyar Travel Group posted a 13.5 percent rise in third-quarter net profit rise, slightly below analysts’ forecasts, as sales increased.

The company made a net profit of SR244 million in the three months to Sept. 30, up from SR215 million in the prior-year period.

Al-Tayyar said quarterly sales rose 22 percent 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 and SR262 million.