Riyadh-Mubasher: Al-Tayyar Travel Group posted net earnings of SAR 215 million for the fourth quarter of 2015, falling 7% year-on-year from SAR 231 million.
The travel services provider attributed the profit decline mainly to increase in general and administrative expenses by 19% and selling and marking expenses by 12%.
Full-year net income rose 4% to SAR 1.16 billion, compared with SAR 1.11 billion in the same period a year ago.
The profit growth was spurred by a 12% rise in sales and 56% leap in revenues, the company said.
