Saudi's Al Khodari posts five-fold profit increase

The company has attributed the increase to the auctioning of used equipment and a 15.9% year-on-year increase in the company's revenue.

Al Khodari profits are up five-fold.
Al Khodari profits are up five-fold.

Construction firm Abdullah Abdul Mohsin Al Khodari and Sons saw a five-fold profit increase in Q4 2014, the company said on Sunday (January 18).

The Saudi-based company also revealed its project pipeline has risen significantly.

The company made a profit of $12.2m in the last quarter of 2014, up from $2.2m during the same period next year.

The result was in line with the forecast of Global Investment House, which predicted the company would make $11.7mn the quarter.

The company has attributed the increase to the auctioning of used equipment and a 15.9% year-on-year increase in the company's revenue.

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