Is there some light at the end of the tunnel?
Al Khodari released its Q3 2017 results showing a 48.1% yoy decrease in its revenues to SAR433.18m. The difficult context remained unchanged on the local market, resulting in liquidity challenges arising from government payment delays, slow progress in the ongoing projects, and a decline in new projects awards. The company narrowed its losses by 38.8% yoy to SAR65.7m due mainly to a decline in direct costs by 48%, as well as a drop in general and administrative expenses by 29%.Abdullah Abdul Mohsin Al-Khodari Sons is a multifaceted contracting company engaged in civil engineering, roads and bridges, railways, buildings and infrastructure, water & waste water treatment, oil & gas and pipelines in support of petrochemical production, city cleaning, environmental control, land transportation and operation & maintenance activities.
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