Makkah Construction and Development Co. — Earnings Release 2021

Mar 9, 2021

Makkah Construction and Development Co. announces its Annual Financial Results for the Period Ending on 30/04/1442H

4100 · 09/03/2021 08:19:37 · Announcement #62175 · View on Saudi Exchange

Makkah Construction and Development Co. announces its Annual Financial Results for the Period Ending on 30/04/1442H

Element List	Current Year	Previous Year	%Change
Sales/Revenue	123	477	-74.213
Gross Profit (Loss)	-0.08	280	-
Operational Profit (Loss)	-25	259	-
Net Profit (Loss) after Zakat and Tax	-59	236	-
Total Comprehensive Income	414	-395	-
Total Share Holders Equity (after Deducting Minority Equity)	4,463	4,297	3.863
Profit (Loss) per Share	-0.36	1.43
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current year compared to the last year is	The reason for achieving a net loss is due to the decrease in the revenues and occupancy rates of the residential rooms in the Makkah Hotel and Towers, due to the decrease in the number of visitors and pilgrims, as well as the closing of the shops in the mall as a result of the precautionary measures taken by the government to confront the Coronavirus pandemic, as well as the calculation of the provision for expected credit losses and zakat provision for previous years.
Statement of the type of external auditor's report	Unmodified opinion
Reclassification of Comparison Items	Certain comparative figures for the previous year have been reclassified to conform to the presentation of the current year figures

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.