Taiba Holding Co. recorded SAR 817.17 million net profit for Q3 2014, surging 1,198.54% from SAR 62.93 million in Q3 2013 and 1,280.35% from SAR 59.2 million in Q2 2014.
The nine-month net earnings reached SAR 935.85 million, compared with SAR 199.55 million a year earlier, an increase of 368.98%.
The earnings per share (EPS) grew from SAR 1.33 to SAR 6.24.
The main reason for the profit surge was due to the increase in operational revenues of the newly-operated hotels, in addition to the capital gains generated from the compensation received by Taiba and its subsidiary Al-Aqeeq Co.
The nine-month net earnings reached SAR 935.85 million, compared with SAR 199.55 million a year earlier, an increase of 368.98%.
The earnings per share (EPS) grew from SAR 1.33 to SAR 6.24.
The main reason for the profit surge was due to the increase in operational revenues of the newly-operated hotels, in addition to the capital gains generated from the compensation received by Taiba and its subsidiary Al-Aqeeq Co.
Source:
Mubasher
