25/07/2022
Argaam Exclusive
Makkah Construction and Development Co. (MCDC) reported a net profit after Zakat and tax of SAR 86 million in H1 2022 ended May 30, versus a net loss of SAR 14 million a year earlier, buoyed by higher number of visitors on lifting the COVID-19 lockdown measures.
The company reported a net profit of SAR 78 million in Q2 2022, versus a net loss of SAR 4 million in a year-earlier period, boosted by higher revenue, increased occupancy rates and the rise in the number of visitors and pilgrims.
On a sequential basis, net profit increased by more than eight-fold.
Current Quarter Comparison (M)
| Item | Q2 2021 | Q2 2022 | Change |
|---|---|---|---|
| Revenues |
33.00 |
146.00 |
342.4 % |
| Gross Income |
3.00 |
86.00 |
2766.7 % |
| Operating Income |
(3.00) |
79.00 |
2733.3 % |
| Net Income |
(4.00) |
78.00 |
2050.0 % |
| Average Shares |
164.82 |
164.82 |
– |
| EPS (Riyals) |
(0.02) |
0.47 |
2050.0 % |
Total shareholders’ equity, excluding minority interest, reached SAR 4.364 billion by the end of H1 2022, compared to SAR 5.112 billion a year earlier.
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Share Price
Makkah Construction and Development Co. (MCDC)
| Current | |
| Market Cap (M Riyal) | 12,361.22 |
| Enterprise Value (EV) (M) | 12,370.62 |
| Book Value (BV) ( Riyal) | 26.48 |
| Adjusted P/E (Last12) | More than 50 |
| P/E (TTM) | More than 50 |
| Price/book | 2.83 |
| Return on Average Assets (%) (TTM) | 2.2 |
| Return on Average Equity (%) (TTM) | 2.2 |
Kindly,
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