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Mannai Corporation reports a 27% growth

Company: Mannai Corporation
Release Date: October 28, 2013

Financial Highlights on a consolidated basis

  • Revenues up 27% to QR 4.1 Billion  
  • Net profit up 12.3% to QR 290.2 Million  
  • Earnings per share stood at QR 6.36

 

Doha, 27 October 2013 — Mannai Corporation QSC (Qatar Exchange: MCCS), today announced its 3rd quarter results for the period ended 30th September, 2013, reporting net profits of QR 290.2 Million for the nine month period ended 30th September, 2013, which is an increase of 12.3% over the same period last year. 

Total Revenue increased from QR 3.2 Billion to QR 4.1 Billion, 27% more than the same period last year.  

Alekh Grewal, Group Chief Executive Officer and Director said “Mannai Corporation is working towards building a strong international business. The Board’s medium term strategy, has three main aims: to maintain a strong capital base for growth, expansion of the Company’s overseas earnings and the continued development of our core business in Qatar. Today we are well into realising that vision with more than 55% of total profits attributable to international assets held by Mannai Corporation.”

Earnings per share decreased due to the rights issue of November, 2012 to fund the Damas acquisition.

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