Al-Andalus Property Company has announced its 4Q2015 headline figures. Net income came in at SAR21.7 million (+0.46% Y-o-Y, -10.2% Q-o-Q), operating income came in at SAR23.6 million (-5.3% Y-o-Y, -11.5% Q-o-Q) and gross profit came in SAR16.7 million (-5.4% Y-o-Y, -15.7% Q-o-Q). This brings 2015 net income to SAR94.1 million (+8.4% Y-o-Y), operating profit SAR103.4 million (+6.6% Y-o-Y), and gross profit SAR75.1 million (+6.2% Y-o-Y). Management attributed the growth in the reported annual figures to: i) higher rental revenue; ii) higher income from associates; iii) a drop in selling and marketing expenses; and iv) a drop in financing costs. These factors more than compensated for the rise in general operating costs. (Tadawul)