Makkah Construction and Development Co. turned to a net profit after Zakat and tax of SAR 4 million for the fiscal year ended 29 Rabi Al-Thani, 1443 (Dec. 4, 2021), from a net loss of SAR 59 million in the same period in 1442 AH.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 123.44 | 159.64 | 29.3 % |
| Gross Income | (0.08) | 53.62 | 67128.8 % |
| Operating Income | (50.27) | 11.18 | 122.2 % |
| Net Income | (58.88) | 4.25 | 107.2 % |
| Average Shares | 164.82 | 164.82 | - |
| EPS (Riyals) | (0.36) | 0.03 | 107.2 % |
The company attributed the profit to higher revenue from the shops in the mall due to the decrease in the exemptions given to the tenants during the precautionary measures taken by the government in the Central Region to control the pandemic. This resulted in a relative increase for shop visitors, as well as a decrease in the calculation of the provision for expected credit losses.
The developer also reported a net profit after Zakat and tax of SAR 6.6 million in the fourth quarter of 2021 from a net loss of SAR 44.8 million in the year-ago period.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 18.63 | 58.35 | 213.2 % |
| Gross Income | (7.24) | 29.83 | 511.8 % |
| Operating Income | (36.08) | 10.36 | 128.7 % |
| Net Income | (44.81) | 6.81 | 115.2 % |
| Average Shares | 164.82 | 164.82 | - |
| EPS (Riyals) | (0.27) | 0.04 | 115.2 % |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 44.67 | 58.35 | 30.6 % |
| Gross Income | 23.53 | 29.83 | 26.8 % |
| Operating Income | 12.82 | 10.36 | (19.2 %) |
| Net Income | 11.76 | 6.81 | (42.1 %) |
| Average Shares | 164.82 | 164.82 | - |
| EPS (Riyals) | 0.07 | 0.04 | (42.1 %) |
Shareholders’ equity, excluding minority interest, amounted to SAR 4.183 billion at the end of the period compared to SAR 4.463 billion in the same period a year ago.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}