Al-Khodari equipment auction makes SAR 14 mln gross profit

19/11/2017 Argaam

Abdullah A.M. Al-Khodari Sons Co.’s auction of surplus equipment, which ran from Nov. 14-16, generated a gross profit of SAR 14 million, the company said in a statement to Tadawul on Sunday.

 

The total sales value of the equipment sold was SAR 36.8 million.

 

Financial impact of the auction, held at the Al-Khodari yard in Dammam, is expected to show on Q4 results.

 

Last month, Al-Khodari signed a contract with Abdullah Fouad Holding Company to auction its surplus equipment in order to upgrade its plant and equipment.

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