Riyadh – Mubasher: The net profit of Makkah Construction and Development Company leapt by 36.89% year-on-year (YoY) to SAR 256 million during the first half (H1) of 2024 from SAR 192 million.
The company’s revenue surged by 54.02% YoY to SAR 536 million in H1-24 from SAR 348 million in H1-23, according to interim financial results.
The earnings per share (EPS) hit SAR 1.55 from January until the end of June, up from SAR 1.14 in the corresponding period a year earlier.
Quarterly Results
During the second quarter (Q2) of 2024, Makkah Construction and Development’s net profit rose by 16.26% to SAR 143 million from SAR 123 million.
Sales grew by 68.26% to SAR 350 million in Q2-24 from SAR 208 million.
Quarter-on-quarter (QoQ), the company’s net profit went up by 26.54% in Q2-24 from SAR 113 million in previous quarter, while sales soared by 89.18% from SAR 185 million.
It is worth noting that Makkah Construction and Development reported 73.84% YoY surge in net profit to SAR 113 million in Q1-24 from SAR 65 million.
