Saudi Arabia · Delayed Price · Currency is SAR Makkah Construction and Development Company Earnings Call Transcripts
Fiscal Year 2026
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Revenue grew 7% and net income rose 8% year-over-year, driven by strong mall performance and resilient Hotel & Towers pricing. Major land acquisition and a SAR 400 million renovation plan support long-term growth, with guidance maintained for 2026.
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Record revenue and profit growth driven by mall and hospitality segments, with strong cash flow and a robust balance sheet. Major renovations and new developments are set to nearly double gross profit to SAR 900 million, despite some short-term impact from regional tensions.
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Revenue and net income grew 16% and 15% year-over-year, driven by strong commercial mall and hospitality performance, while Hajj segment saw significant volume growth but lower margins due to a B2B focus. Major hotel renovation and mall enhancements are planned, funded by asset sales.
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H1 2026 delivered robust revenue and profit growth, driven by strong hospitality and retail performance, strategic investments, and disciplined execution. Margin improvement in the Hajj segment remains a focus, with selective CapEx planned.