Saudi developer Makkah Construction and Development Co. (MCDC) reports net profits of SAR 56 mn in the first quarter ending on April 25, 2017, unchanged from the figures posted in the prior-year period, Invest-Gate reports.

The company’s financials were affected by lower general expenses as well as a decline in revenues from Makkah Hilton and Towers Hotel.

On a quarterly basis, profits rose 3.7% compared to SAR 54 mn, the company says in a bourse statement. Revenues decreased 1.7% to SAR 115 mn in Q1-17, compared to SAR 117 mn in the same period a year earlier.