Riyadh-Mubasher: Taiba Holding posted net earnings of SAR 75.5 million for the fourth quarter ended 31 December 2015, falling 73% compared with SAR 278 million in the year-earlier period.
Full-year net earnings also fell 64% year-on-year from SAR 1.2 billion to SAR 437 million.
The profit decline was mainly due to the compensations received in 2014 for expropriation of land plots and properties owned by Taiba and its subsidiary Al-Aqeeq in favour of the expansion of Prophet's Holy Mosque.
