Makkah Construction says unable to publish Q3 2022 financials on time; expects short Hijri fiscal year statements in 10 days

Logo of Makkah Construction and Development Co.

Makkah Construction and Development Co. (MCDC) announced that it failed to publish its financial results for the nine-month period ended Sept. 30, 2022, on the Saudi Exchange (Tadawul) within the specified time.

In a statement to Tadawul, the construction firm said this is due to the company’s shift from the Hijri fiscal year to the Gregorian. In addition, the company noted the incompletion of the requirements of the review process for Q3 2022 preliminary financial statements.  

Any developments in this regard will be announced as soon as available, and the procedures for suspending trading of listed securities will be applied, in accordance with the listing rules, MCDC said.   

In a separate statement, MCDC said it expects to publish the annual financial results ending on Dhul-Qa'dah 14, 1443 AH (the short Hijri fiscal year) within 10 days.  

The delay was due to the non-completion of requirements of the audit process by the external auditor.