Saudi: Umm Al Qura posts 57% leap in net profits during 2024
Umm Al Qura for Development and Construction Company recorded 57.29% year-on-year (YoY) higher net profits at SAR 498.61 million in 2024, compared to SAR 317 million.
Revenues hiked by 84.58% to SAR 1.82 billion at the end of December 2024 from SAR 988.14 million in 2023, according to the financial results.
The earnings per share (EPS) increased to SAR 0.38 last year from SAR 0.24 in 2023.
Yasser Abu Ateek, CEO of Umm Al Qura, commented: '2024 was a transformational year for Umm Al Qura as we prepared to list on the Main Market of the Saudi Exchange.'
'Umm Al Qura is now positioned for continued success in the years ahead as we remain focused on the goals of Vision 2030 and our commitments to enhancing the experience of residents, pilgrims and visitors of Makkah while developing a world-class multi-use destination,' the CEO added.
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