Taiba Holding has announced its 4Q2015 headlines. Net income came in at SAR75.5 million (-72.9% Y-o-Y, -26.1% Q-o-Q), operating income came in at SAR47.1 million (+25.9% Y-o-Y, -33.9% Q-o-Q), and gross profit came in SAR59.6 million (+18.2% Y-o-Y, -28.1% Q-o-Q). This brings 2015 net income to SAR436.9 million (-64.0% Y-o-Y), operating profit SAR234.4 million (+1.5% Y-o-Y), and gross profit unchanged Y-o-Y at SAR280.3 million. Management attributed the annual and quarterly decline in net income to the absence of a one-off gain that helped the corresponding figures of the comparable periods. The improvement in the quarterly gross and operating income came on the back of lower land costs. (Tadawul)