Riyadh – Mubasher: Makkah Construction and Development Company registered SAR 411 million in net profit as of 31 December 2024, which marked a 23.05% year-on-year (YoY) growth from SAR 334 million.

Revenues hiked by 14.36% to SAR 836 million last year from SAR 731 million in 2023, according to the financial statements.

Meanwhile, the earnings per share (EPS) increased to SAR 2.49 in 2024 from SAR 2.03 a year earlier.

Cash Dividends

The development company’s board members recommended cash dividends of SAR 300 million, representing 15% of the capital, for 2024.

Makkah Construction will pay out a dividend of SAR 1.50 per share for 200 million eligible shares.

In the nine-month period that ended on 30 September 2024, Makkah Construction recorded 26.95% YoY higher net profits at SAR 325 million, compared to SAR 256 million.