Abdullah Al Khodari Sons (Al Khodari) reported its 2Q18 financial results, with a revenue coming in at SAR63.6mn (-50% Y-o-Y, +3.4% Q-o-Q) and net loss at SAR4.9mn (vs. net loss of SAR18.1mn in 2Q17 and net profit of SAR6.8mn in 1Q18). That brings total revenue in 1H18 to SAR125.2mn (-61% Y-o-Y) and net profit to SAR1.9mn (vs. net loss of SAR29.6mn in 1H17). The company attributed the shrinking of loss Y-o-Y to a higher gross profit margin and other revenues, as well as lower SG&A expenses.
Abdullah A. M. Al-Khodari Sons Company: SAR7.24 as of 15 Nov. 2018, Rating: Sell, TP: SAR6.48/share, MCap: USD108mn, ALKHODAR AB/1330.SE
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