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Mannai Corporation Profits Up 46%

Company: Mannai Corporation
Release Date: February 11, 2009

Following Mannai Corporation’s Board Meeting on Wednesday 11th February, chaired by HE Sheikh Suhaim Bin Abdulla Bin Khalifa Al Thani, Vice Chairman of the company, the company  issued a statement highlighting its performance.

The company’s strong growth trend continued into 2008; Sales grew by 23% to QR 1.95 Billion and Net profit increased by 46% from QR 100.5 Million in 2007 to QR 146.5 Million in 2008.

The Net profit in 2008 is more than double than that achieved in 2006 and considerably more than treble the profit of 2005.

Earnings per share increased from QR 7.38 in 2007 to QR 10.17 in 2008.  The strong performance enabled the Directors to recommend a cash dividend of QR 6 per share being 60%  of the nominal value, and a bonus issue of 10% of the share capital of the Corporation, being 1 bonus share for every 10 shares held.

With its strong financial position and diversity of business, the company remains positive regarding its outlook for 2009.

The Corporation’s Ordinary and Extra Ordinary General Assembly will be held at the Simsima II Ballroom at the Millenium Hotel Doha at 4.00 p.m. on Thursday, 26th February, 2009 to which all shareholders are invited.



 

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