Al Tayyar Travel Group Holding revealed its preliminary financial results for the period ending Dec. 31.

Net profit during the fourth quarter was reported at SR236 million, with an increase of 13.46 percent from SR208 million during the same quarter of the previous year. The quarter’s net profit saw a decrease of 3.28 percent against SR244 million in the previous quarter.

The gross profit during the fourth quarter stood at SR408 million as compared to SR 339 million for the corresponding quarter last year, projecting an increase of 20.35 percent, and an increase of 9.38 percent against SR 373 million for the previous quarter.

The operating profit was valued at SR245 million during the fourth quarter, a 15.02 percent increase in comparison to SR213 million for the same quarter of the previous year and a decrease of 4.67 percent against SR257 million for the previous quarter.

Net profit amounted to SR1.12 billion for the current period, with an increase of 14.94 percent from last year’s profits of SR977 million.

The current gross profit amounted to SR1.62 billion with an increase of 20.88 percent from SR1.34 billion last year.

The earnings per share value increased to SR7.49 from SR6.51 in the previous year.

The company attributed the increase in the current quarter to growth in sales by 37 percent, and growth in other operating income by 64 percent.

The main reason for increase in the current period as compared to the same period last year is attributed to growth in sales by 23 percent and increase in other operating incomes by 11 percent in addition to increase in capital gain on property and equipment by SR26 million.