Makkah Construction Reports SAR 334.80M Net Profit in the Six Months 2026
MCDC 4100.SA | 0.00 |
On 2026-08-03 08:01:07 (Saudi Time), Makkah Construction and Development Co. announced its Interim financial results for the six months ended on June 30, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 700.9 | 388.1 | 80.597 | 251.4 | 178.798 |
| Gross Profit (Loss) | 191 | 143 | 33.566 | 186.7 | 2.303 |
| Operational Profit (Loss) | 162.4 | 118.9 | 36.585 | 156.9 | 3.505 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 172.6 | 144.2 | 19.694 | 162.2 | 6.411 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 115.3 | -442.8 | - | 245.5 | -53.034 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 952.3 | 623.7 | 52.685 |
| Gross Profit (Loss) | 377.7 | 312.8 | 20.748 |
| Operational Profit (Loss) | 319.3 | 263.9 | 20.992 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 334.8 | 294.3 | 13.761 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 360.8 | 315.6 | 14.321 |
| Total Shareholders Equity (after Deducting Minority Equity) | 3,892 | 4,070 | -4.373 |
| Profit (Loss) per Share | 1.67 | 1.47 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
For the six-month period ending 30 June 2026, Makkah Construction and Development Co. reported sales/revenue of SAR 952.3 million, up 52.685% YoY from SAR 623.7 million, primarily driven by approximately SAR 274 million growth in Hajj revenue due to the timing of the Hajj season and recognition of most related revenue within the first half of 2026 (versus a split recognition across Q2 and Q3 in the prior year), alongside an approximately SAR 30 million increase in retail revenue from higher lease rates and expanded leased area, and an approximately SAR 24 million increase in hospitality revenue supported by improved Umrah demand ahead of Hajj. Net profit attributable to shareholders rose 13.761% YoY to SAR 334.8 million from SAR 294.3 million, driven by approximately SAR 34 million improvement in retail, approximately SAR 19 million improvement in hospitality, and approximately SAR 7 million contribution from Hajj, partially offset by a combined negative impact of approximately SAR 19 million from lower income from investments and associate companies and a slight increase in zakat and other expenses.
Quarter-on-Quarter Performance Drivers
QoQ revenue surged 178.798% to SAR 700.9 million (vs. SAR 251.4 million in Q1 2026), primarily driven by the Hajj season falling in Q2, resulting in the recognition of approximately SAR 471 million in Hajj revenue, along with around SAR 10 million growth in retail revenue, partially offset by an approximately SAR 31 million decline in hospitality revenue as Q1 had benefited from the Ramadan season. Net profit attributable to shareholders rose 6.411% QoQ to SAR 172.6 million (vs. SAR 162.2 million in Q1 2026), supported by approximately SAR 18 million improvement in Hajj, approximately SAR 11 million improvement in retail driven by higher lease rates and expanded leased area, and higher investment returns with slightly lower expenses of around SAR 5 million, partially offset by approximately SAR 23 million decline in hospitality.
Other Items
The external auditor issued an unmodified conclusion with no additional comments, emphasis of matter, or adverse opinions noted. No material risks, going concern uncertainties, debt covenant breaches, or accumulated losses were disclosed in the announcement. No reclassification of comparison items was reported.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97176&anCat=1&cs=4100&locale=arAttached PDF document link:
https://www.saudiexchange.sa/Resources/fsPdf/30314_446_2026-08-03_02-20-28_en.pdfImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.