Makkah Construction and Development Co. — Interim / Quarterly Report 2021

Oct 20, 2021

Makkah Construction and Development Co. announces its Interim Financial Results for the Period Ending on 30/01/1443H ( Nine Months )

4100 · 20/10/2021 15:46:26 · Announcement #65225 · View on Saudi Exchange

Makkah Construction and Development Co. announces its Interim Financial Results for the Period Ending on 30/01/1443H ( Nine Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	45	5	800	33	36.363
Gross Profit (Loss)	16	-21	-	3	433.333
Operational Profit (Loss)	13	-29	-	-3	-
Net Profit (Loss) after Zakat and Tax	12	-29	-	-4	-
Total Comprehensive Income	-195	1,186	-	548	-
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	101	105	-3.809
Gross Profit (Loss)	16	7	128.571
Operational Profit (Loss)	1	-14	-
Net Profit (Loss) after Zakat and Tax	-3	-14	-78.571
Total Comprehensive Income	191	907	-78.941
Total Share Holders Equity (after Deducting Minority Equity)	4,655	4,957	-6.092
Profit (Loss) per Share	-0.02	-0.09
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The reason for achieving a net profit is due to the relative increase in revenues and occupancy rates of residential rooms in Makkah Hotel and Towers, to an increase in the number of visitors and pilgrims, as well as a relative increase in the revenues of shops in the mall, as a result of the partial lifting of the precautionary measures taken by the government to confront the Corona virus pandemic, as well as a decrease in some items of expenses. public and administrative.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is	The reason for achieving a net profit is due to the relative rise in the revenues of the shops in the mall as a result of the partial lifting of the precautionary measures taken by the government to confront the Corona virus pandemic, as well as the decrease in some items of public and administrative expenses.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	The reason for the decrease in net loss despite the decrease in revenues and occupancy rates of residential rooms in Makkah Hotel and Towers is due to the decrease in the number of guests from visitors and pilgrims as a result of the precautionary measures taken by the government to confront the Corona virus pandemic, but the cost of revenues decreased by a rate that exceeds the decrease in revenues, as well as a decrease in some items of public expenses and administrative..
Statement of the type of external auditor's report	Unmodified conclusion
Reclassification of Comparison Items	NA

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