Taiba Holding has reported its headline figures for 2Q16. Net income was SAR68.5mn (+20.2% Y-o-Y, +38.4% Q-o-Q), operating profit was SAR61.7mn (+14.3% Y-o-Y, +16.2% Q-o-Q), while its gross profit was SAR71.9mn (+12.3% Y-o-Y, +2.0% Q-o-Q). This brings 1H16 net income to SAR118.1mn (-54.5% Y-o-Y), operating profit SAR114.8mn (-1.2% Y-o-Y) and gross profit SAR142.4mn (+3.3% Y-o-Y). Management attributed the Y-o-Y increase in net income in 2Q16 to the rise in operating revenue from hotels and retail centres and on higher returns from investments. The drop in 1H16 net income was mainly due to an unfavourable Y-o-Y comparison, with one-off capital gains from the sale of Bakkah Arac Hotel booked in 2Q15. (Tadawul)