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Saudi’s Khodari auctions equipment with $4m profit

The auction, held between 5 and 7 April, witnessed the purchase of equipment of $10m gross sales value, and its impact will be reflected in al-Khodari's Q2 financials

by Neha Bhatia
Saudi's Khodari auctions equipment with $4m profit
Saudi's Khodari auctions equipment with $4m profit

Saudi Arabian contractor Abdullah Abdul Mohsin al-Khodari and Sons announced it has made a profit following a public auction of its equipment assets. 

In a bourse filing, al-Khodari said auction was held between 5 and 7 April. 

The firm made a gross profit of $4.02m (SAR15.08m) from the auction. 

The gross sales value of al-Khodari’s auctioned equipment is $10.2m (SAR38.5m).

Al-Khodari said the financial impact of the auction will be reflected in the company’s second-quarter results.Â