Riyadh – Mubasher: Makkah Construction and Development Company reported a 9.7% year-on-year drop in its net profits during the third quarter of 2019, registering SAR 74 million.

Revenues of the Saudi firm decreased by 10.4% to SAR 129 million in Q3-19, compared to SAR 144 million in the same quarter of 2018, according to the company’s filing to the Saudi Stock Exchange (Tadawul) on Sunday.

For the first nine months of 2019, net profits of Makkah Construction declined by 5.5% to SAR 209 million, from SAR 198 million in the same period of 2018.

The firm generated SAR 375 million in revenues during the nine-month period ended September, 6.7% lower than SAR 402 million in the same period last year.

By the end of September, profit per share stood at SAR 1.27, versus SAR 1.2 in September 2018.