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

Apr 22, 2021

Makkah Construction and Development Co. announces its Interim Financial Results for the Period Ending on 29/07/1442H ( Three Months )

4100 · 22/04/2021 15:37:55 · Announcement #62968 · View on Saudi Exchange

Makkah Construction and Development Co. announces its Interim Financial Results for the Period Ending on 29/07/1442H ( Three Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	23	94	-75.531	19	21.052
Gross Profit (Loss)	-3	50	-	-7	-57.142
Operational Profit (Loss)	-9	42	-	-10	-10
Net Profit (Loss) after Zakat and Tax	-11	41	-	-45	-75.555
Total Comprehensive Income	-161	-383	-57.963	-493	-67.342
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Total Share Holders Equity (after Deducting Minority Equity)	4,303	3,914	9.938
Profit (Loss) per Share	-0.06	0.25
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 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 closure of most of the shops in the mall, as a result of the precautionary measures taken by the government to confront the Coronavirus pandemic, because the company's geographical location of activity is within the borders of the central region In MakkahAl Mukarramah.
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 the decrease in the net loss is due to the fact that the previous quarter included a provision for potential zakat differences for previous years, as well as the calculation of the provision for expected credit losses.
Statement of the type of external auditor's report	Unmodified conclusion
Reclassification of Comparison Items	NA

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