reports
Going toward a worst year
Contracting backlog dipped 10.2% to SAR3,510m compared to Q4 2015. (-19.7% compared to Q1 2015) due to non contribution of new awards since Q2 2015. New awards amounted to SAR16.2m, down from SAR5.027bn. Contracting revenues shrunk by 16.2% to SAR370.7m compared to Q1 2015 due to sharp decline in revenue from Building sector which represented 10% of Q1 2016 revenues (vs. 44% in the same quarter last year). Trading revenues also decreased by 41% to SAR1.1m.
A tough year despite the improvement in Q4 figures
Al Khodari posted a 14.5% improvement in Q4 2015 revenues, amounting to SAR385.41M (up from SAR336.57M during Q3 2015). The net income also witnessed a significant increase of almost 93% to SAR-1.04M. However, FY 2015 figures are still disappointing. In fact, FY consolidated sales declined by 9.6% to SAR1569.95M, the EBIT is almost cut by half to SAR34.71M and the net income has sharply fallen by almost 70% to SAR33.51M.
A net profit surge, boosted by exceptional revenues
For Q1 2015, sales surged by 18.8% to SAR1,977.8M boosted by local revenues worth SAR1,624.3M, i.e. a 82.1% contribution and a 30.8% rise. International sales decreased from SAR422.3M, in Q1 2014, to SAR377.6M in Q1 2015. The net profit increased by 10.2% to SAR210.8M.
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