Al Tayyar Travel Group Holding Co. said its normalized net income for the first quarter came to 92 halalas per share, an increase of 14.6% from 80 halalas per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 184.5 million riyals, an increase of 14.6% from 160.9 million riyals in the year-earlier period.
The normalized profit margin dropped to 8.6% from 9.0% in the year-earlier period.
Total revenue grew 20.2% year over year to 2.15 billion riyals from 1.79 billion riyals, and total operating expenses rose 21.1% from the prior-year period to 1.85 billion riyals from 1.53 billion riyals.
Reported net income grew on an annual basis to 285.6 million riyals, or 1.43 riyals per share, from 280.0 million riyals, or 1.40 riyals per share.
As of April 23, US$1 was equivalent to 3.75 Saudi Arabian riyals.
