Riyadh-Mubasher: Makkah Construction and Development Co.’s profits grew 6.54% year-on-year to SAR 114 million ($30.4 million) in the three-month period ending 30 Shawwal 1437 Hijri from SAR 107 million ($28.53 million).
The increase in net profits was attributed to higher revenues and occupation rate in Makkah Hilton hotel and towers in the two months of Shaban and Ramadan.
Higher Murabaha yield and lower depreciations also contributed to the rise in profits, according to a bourse filing on Monday.
The company’s net profits were up 6.3% to SAR 169 million in the first six months of 2016 from SAR 159 million in the year-ago period.
