Saudi news

Profits of “Makkah Construction” rose 383% to 58 million riyals in the third quarter

The data of Makkah Reconstruction and Development Company showed an increase in its net profits by 383.3% to 58 million riyals in the third quarter of 2022 (3 months and 17 days as part of the company’s shift to work in the Gregorian year instead of the Hijri year) compared to about 12 million riyals in the same period of 2021.

On a quarterly basis, the net profit of “Makkah Construction” decreased by 21.6%, compared to a net profit of about 74 million riyals in the second quarter of 2022.

And “Makkah Construction” said in a statement on “Saudi Tadawul”, today, Thursday, that the reason for the increase in net profit during the three-month and seventeen-day period ending on September 30 of the current year compared to the similar three-month period of the previous year, is the increase in revenues and ratios Occupying residential rooms in the company’s hotel and towers to increase the number of visitors and Umrah performers, as well as increase the revenues of the commercial center.

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