JEDDAH: Saudi Arabia’s Al-Tayyar Travel Group posted a 6.8 percent increase in third-quarter net profit, citing higher sales and revenues from airlines incentives.
The firm made a net profit of SR214.9 million ($57 million) in the three months to September 30, up from SR201.3 million in the same period of 2012, it said in a statement.
Al-Tayyar attributed the higher profit to an 11 percent rise in sales and a 43 percent jump in income from its airline incentives and reservation systems business.
The company said in August that its CEO Fahad bin Ibrahim Aljarboa would leave the firm on October 17.
Al-Tayyar Travel Q3 profit up 6.8%
