Riyadh – Mubasher: Al Kathiri Holding Company on Sunday said that its 100% subsidiary Msandh El Emdad Company Ltd signed a SAR 10.42 million agreement with the Ministry of Defense - Royal Saudi Air Force.
Under the deal, Al Kathiri’s unit will support the ministry with 5,000 concrete barriers, according to a statement to the Saudi Stock Exchange (Tadawul).
The contract’s financial impact will appear in the firm’s financial results during the first and second quarters of 2019, the Saudi Arabia-based firm noted.
Al Kathiri last reported a 4% year-on-year increase in profits during the third quarter of 2018, recording SAR 3.4 million, compared to SAR 3.27 million.
In the first nine months of 2018, Al Kathiri Holding’s profits hiked 54.6% to SAR 7.93 million, from SAR 5.13 million in the prior-year period.
Al Kathiri Holding Company’s stock levelled down 8.77% to close Sunday’s trading session at SAR 52.
