Riyadh –  Makkah Construction and Development Company generated net profits worth SAR 325 million in the first nine months (9M) of 2024, an annual leap of 26.95% from SAR 256 million.

Revenues amounted to SAR 677 million in 9M-24, up 13.40% from SAR 597 million in the year-ago period, according to the initial financial results.

The earnings per share (EPS) hiked to SAR 1.97 as of 30 September 2024 from SAR 1.55 a year earlier.

Financials for Q3-24

In the third quarter (Q3) of 2024, Makkah Construction recorded a 1.47% year-on-year (YoY) rise in net profit to SAR 69 million, compared to SAR 68 million.

The development group registered revenues valued at SAR 142 million in the July-September 2024 period, an annual plunge of 42.97% from SAR 249 million.

Quarterly, the Q3-24 net profits fell by 51.74% from SAR 143 million in Q2-24, while the revenues shrank by 59.42% from SAR 350 million.

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