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Mannai Corporation Profit Up 43%

Company: Mannai Corporation
Release Date: April 1, 2009

Mannai Corporation have reported a net profit of QR 51.3 Million in the first quarter of 2009, up by 43% against the same period last year. This follows a 46% increase in Net Profit reported for the year ended 31st December, 2008.

Sales remained strong and increased to QR 523 Million against the previous year’s corresponding period figure of QR 458 Million. All business segments have performed in line with expectations

Alekh Grewal, Chief Executive Officer said, “given the current economic scenario, the 43% growth in profits is indeed commendable. The diverse range of our activities has been an important factor towards its achievement.

The earnings per share (EPS) for the quarter increased to QR 3.24 compared to QR 2.26 for the quarter ended March 2008.

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