Riyadh – Mubasher:  Makkah Construction and Development posted unchanged net profits of SAR 56 million ($14.93 million) in the period ended 29 Rajab 1438 (26 April 2017) compared to the year-ago period.

Profits increased 3.7% compared to SAR 54 million ($14.39 million) achieved in the previous quarter, according to a bourse filing.

The company attributed the profits posted to lower activity costs, general expenses, and revenues of Makkah Hilton Towers.

Revenues decreased 1.7% to SAR 115 million in the first quarter of the current fiscal year compared to SAR 117 million in the same quarter of last year.