Al Tayyar Travel Group (1810.SE) reported KPIs for 4Q2015, with net income of SAR215 million, down 7% Y-o-Y (-19% Q-o-Q), driven by a 27% increase in several cost items (medical insurance costs and rent) on the opening of 30 new branches, while revenue was flat at SAR2,191 million (+0%). Meanwhile, gross profit grew c3% Y-o-Y to SAR408 million, while gross margin widened 50bps to 19.2%. However, operating profit dropped c9% Y-o-Y to SAR249 million on cost pressures; accordingly, EBIT margin narrowed 240bps to 10.4%. Subsidiaries’ performance was also weak, in addition to booking impairment losses on intangible assets (+6% Y-o-Y). (Tadawul)