Who can stop the bleeding?
Al Khodari has released its Q1 2017 figures showing a 48% decrease, yoy, in its revenue to SAR194m. On the other hand, the company’s direct costs decreased by only 42%, which threw its gross profit in red territory with a -6% gross margin (vs. 6% in Q1 2016).The company’s Q1 figures were marked by many changes with the adoption of the IFRS as of 1 January, 2017.
The slow progress on projects and liquidity challenges resulting from delayed payments are among the reasons behind not only Al khodari’s loss but also the general decline in the industry.
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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