Losing money and bleeding cash
Revenue decreased 39% YoY due to decline in revenue from Industrial Infrastructure, Building, Environmental & Road sectors in Q3 2016. However, it was moderately offset by rise in revenue from O&M sector. The decline in revenue resulted in Gross loss of SAR35.4m in Q3 2016 which pulled down the EBITDA to SAR-15.3m in Q3 2016.Even though the G&AE cost declined by SAR 8.6m due to the savings in manpower costs and resource optimization, the bottom line is a 234% decline yoy (10% decline qoq) in net loss to SAR-47.8m.
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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