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English news

09-Mar-2016

Al-Khodari postpones auction sale of surplus equipment to 2Q2016

Abdullah A. M. Al-Khodari Sons (Al-Khodari) has announced that the company has decided to postpone the planned auction sale of surplus equipment which was originally scheduled for the period between 15 and 17 March to the period between 5 and 7 April. Hence, the financial impact of the transaction is expected to hit the income statement in 2Q2016, rather than 1Q2016. The auction’s results will be announced upon its conclusion. Our numbers incorporate SAR49 million in non-operating income in 2016 (SAR48 million in 2015), whose biggest constituent are the gains from the auction sale of surplus equipment. The company has historically conducted two auctions per year. (Tadawul)

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