Riyadh – Mubasher: Makkah Construction and Development Company reported its interim financial results for the second quarter of 2019.

Net profits after zakat and tax grew by 24.28% to SAR 87 million in Q2-19, compared to SAR 70 million in Q2-18, according to the company’s filing to the Saudi Stock Exchange (Tadawul) on Monday.

Meanwhile, revenues declined by 6.25% year-on-year to SAR 150 million during the three-month period between April and June.

For the first half of 2019, net profits of Makkah Construction jumped by 16.37% to SAR 135 million, versus SAR 116 million in H1-18.

The company generated SAR 246 million in revenues, 5% down from SAR 259 million in the same period the year before.

Profit per share stood at SAR 0.82 by the end of June, compared to SAR 0.7 in the corresponding period last year.