Makkah Construction says 6-month financials ‘unaudited’

Logo of Makkah Construction and Development Co. (MCDC)

Makkah Construction and Development Co. (MCDC) said that the financial statements for the six-month period ended Shawwal 29, 1443 (May 30, 2022) were issued by the company but were unaudited by the external auditor.  

Audited financial statements for the six-month period will be disclosed within 10 days, the company said in a bourse filing today, Aug. 7, expecting a financial impact from unrecorded provisions.

Procedures related to placing a trading halt on the listed securities will be applied in accordance with the Company Market Authority’s (CMA) listing rules.

Any relevant information will be disclosed in due course.

On July 25, MCDC reported a net profit after Zakat and tax of SAR 86 million for the six-month period ended Shawwal 29, 1443 (May 30, 2022), compared to a net loss of SAR 14 million in the year-earlier period. The company’s Q2 2022 net profit stood at SAR 78 million, Argaam reported.