Dubai: Saudi Arabia construction firm Abdullah Abdul Mohsin Al Khodari and Sons reported a 23.1 per cent rise in third-quarter profit on Sunday, in line with analysts’ estimates.
The company made a profit of 15 million riyals (Dh14.7 million, $4 million) in the three months to Sept. 30, up from 12.19 million riyals in the year-earlier period, according to a statement to Riyadh’s bourse.
Two analysts polled by Reuters forecast Al Khodari would make a quarterly profit of between 14.8 million riyals and 15 million riyals.
The company attributed the rise in profit to a 5.6 per cent increase in revenue and a reduction in general costs and marketing expenditure.
Al Khodari’s contract backlog was 3.36 billion riyals as of September 30, down from 3.99 billion riyals a year earlier, the statement added.
