FINANCIAL NEWS

Al-Khodari net profit falls back by 42.9% in Q2

21 Jul 2013

(MENAFN) Abdullah AM Al-Khodari Sons Co, Saudi construction firm, has made USD6.77 million net profit in its second quarter, falling back by 42.9 precent, reported Arabian Business.

The kingdom’s efforts to increase the national workforce have impacted the construction firm negatively, as Al Khodari reasoned, in addition to raised funding and materials costs.

It’s worth mentioning that the achieved profits didn’t meet the analysts of Global Investment House expectations to reach USD7.8 million.

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