Profits of the listed tourism and hospitality firms rose by 7.4 percent to hit SR1.40 billion in 2014 compared to SR1.32 billion in 2013, according to a financial report.

However, profits of the tourism sector in Q4 of the year dropped by 15 percent to SR261.3 million compared to SR307 million in the same period last year, the report, compiled by Al-Hayat daily, said.

The number of listed tourism and hospitality firms stands at four with their market capitalization at SR29 billion, or 1.5 percent of the Saudi market value. Capitals of the sector reached SR3.65 billion, the report said.

Al-Tayyar Travel Holding Group has the biggest capital at SR2 billion, or 55 percent of the sector’s total, followed by Dur Hospitality Company at SR1 billion (27 percent), Abdulmohsen Alhokair Group for Tourism and Development Company at SR550 million (15 percent), and Tourism Enterprise Company (Shams) at SR101.5 million (3 percent), the report said.

Al-Tayyar Group captured the biggest portion of the sector’s profits in 2014 at SR1.11 billion, or 78.6 percent of the total profits, compared to SR977 million in 2013, or an increase of 15 percent. Similarly, sales of the group grew by 23 percent to SR7.71 billion compared to SR6.26 billion in the previous year.

Abdulmohsen Alhokair Group was the second top profit maker at SR196.5 million in 2014 compared to SR195.7 million in 2013 (+ 0.41 percent), or 14 percent of the sector’s total profits. Profits of Q4 stood at SR50.2 million compared to SR60.9 million in Q4 of 2013, or a decrease of 17.5 percent, the report said.

On the other hand, profits of Dur Hospitality Company dropped by 27.45 percent to SR103.8 million in 2014 compared to SR143 million in 2013.

Meanwhile, sales (revenues) of the company grew by 9.4 percent to SR486.5 million compared to SR445 million in 2013, the report said.

Net profits of Tourism Enterprise Company fell by 50.61 percent to SR4.83 million in 2014 compared to SR9.78 million in 2013, the report said.