Makkah Construction and Development announced its financial results for the three-month period ending on 29 Shawwal 1437 (02 August 2016). Net income came in at SAR114mn (+6.5% Y-o-Y, +104% Q-o-Q), while operating income was SAR121mn (+10% Y-o-Y, +103% Q-o-Q) and gross income SAR126mn (+10% Y-o-Y, 103% Q-o-Q), during the quarter. Half-year results showed net income growing to SAR169mn, operating income 9% to SAR181mn and gross income SAR188mn (+9%). The company attributed the growth to seasonality on higher occupancy hotel occupancy rates, with the quarter covering large parts of the months of Shaaban and Ramadan and a bigger portion in the half results, versus last year. (Tadawul)