Profits below expectations
Al Tayyar recorded a Q4 2015 sales increase of 14.9% compared to Q3 2015. EBIT declined by 15.9% to SAR227M compared to SAR270M in Q3 2015. The net income amounted to SAR215M, a 19% decline compared to the previous quarter. This was on the back of the opening of 30 new branches, as well as a rise of 19% and 12%, in the general and administrative expenses, and selling and marketing expenses, respectively.
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