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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