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13/04/2015 19:39 AST
Taiba Holding Co recorded SAR 202.3 million in net earnings during the first quarter of 2015, soaring 240% form SAR 59.5 million in Q1-14 but falling 27.3% from SAR 278.3 million in Q4-14.
The y-o-y profit growth was due to the capital gains arising from sale of Bakah Arak hotel and the compensation received for some plots acquired for expansion of the Holy Prophet Mosque area, as well as the dividend income from investments and reduction in general and administration expenses, the company said.
It ascribed the q-o-q profit decline to the capital gains arising from the compensation received by subsidiary Al-Aqeeq for various land plots acquired for the expansion of Holy Prophet Mosque area during the last quarter.
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Millennium Hotels and Resorts Middle East & Africa, in partnership with Saudi Forward Hospitality Company Taiba, has announced the relaunch of Millennium Al Aqeeq and Millennium Taiba in Madinah.
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MILLENNIUM & Copthorne Hotels, Middle East and Africa, has signed four new hotels in Saudi Arabia with Taiba Holding Company.
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Net profit of Taiba Holding Company (TIRECO) during the 4th Q 2013 amounted to SAR 64.5 million versus SAR 42.4 million for the same quarter of last year with an increase of 52.12 %, compared to SAR
Gulfbase.com
Ticker | Price | Volume |
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Ticker | Price | Change |
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MASAR | 23.44 | -0.68 (-2.82 |
JABALOMAR | 17.98 | -0.32 (-1.75 |
DARALARKAN | 16.12 | 0.33 (2.08 |
EMAAREC | 12.77 | -0.19 (-1.47 |
MCDC | 75.45 | -0.05 (-0.07 |
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