Taiba Holding Co. has announced its headline figures for 3Q16. Revenue grew 1.7% Y-o-Y to SAR136.5mn. Gross profit came in at SAR85.2mn (+2.8% Y-o-Y, +18.5% Q-o-Q), while operating income came in at SAR74.9mn (+5.2% Y-o-Y, +21.3% Q-o-Q). Net income was SAR75.2mn (-26.4% Y-o-Y, +9.7% Q-o-Q). 9M16 revenue totalled SAR413.1mn (+11.7% Y-o-Y), gross profit SAR227.6mn (+3.1% Y-o-Y); operating income SAR189.7mn (+1.3% Y-o-Y) and net income SAR193.3mn (-46.5% Y-o-Y). Management attributed the Y-o-Y drop in net income in 3Q16 to lower dividend distribution, which overshadowed the improvement in revenue from hotels and commercial centres and the rise in returns from short-term investments. (Tadawul)