Saudi Al-Khodari’s Q3 net profit drops 47.80%

13 Oct 2011

(MENAFN) Saudi Abdullah A. M. Al-Khodari Sons Company said that in the third quarter, net profit declined 47.80 percent from 2010’s same quarter’s USD11 million to USD5.8 million, reported Arab News.

The company added that in the period, operating profit dropped 33.17 percent from last year’s USD10 million to USD6.8 million, whereas gross profit grew 6.52 percent from USD13 million in 2010 to USD14 million.

It also said that in the January-September period, net profit fell 20.96 percent from 2010’s USD34.9 million to USD27.6 million.

It is worth noting that during the first nine months of the year, operating profit slipped 13.38 percent to USD30.6 million from USD35 million.

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