Mannai Corporation QSC (Qatar Exchange: MCCS), General and Extra Ordinary Assembly meetings were held at Intercontinental Hotel, Doha at 6.30 p.m.
H.E. Sheikh Suhaim Bin Abdulla Bin Khalifa Al Thani, Vice Chairman of the Company, Chaired the meeting and highlighted the company’s financial performance in 2014.
Financial Highlights on a consolidated basis :
- Group Revenues increased to QR 5.9 Billion.
- Net profit grew by 18% to QR 526 Million from QR 446 Million last year.
- Earnings per share up by 18% to QR 11.54 (FY 2013 : QR 9.78)
- Return on Equity improved to 24.3%, compared to 22% in 2013.
- Approved cash dividend of 60% (QR 6.00 per share)
On behalf of the H.E. Sheikh Hamad Bin Abdulla Bin Khalifa Al Thani, Chairman of the Company, H.E. Sheikh Suhaim Bin Abdulla Al Thani, said in terms of shareholder value in the 7 full years since being listed on the Qatar Exchange, QR 1 million invested in Mannai shares at the beginning of 2008 was worth more than QR 14 million to the investor at the end of 2014.
H.E. Sheikh Suhaim also said that as a result of the Company’s strength of earnings from Qatar and our international operations the Board was pleased to recommend an increase in dividends to 60% in 2014 from 55% in respect of 2013.
Alekh Grewal, Group Chief Executive Officer and Director said “The diversity of Mannai’s businesses helped in achieving a milestone profit in excess of QR Half a Billion.”