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MANNAI CORPORATION REPORTS EBITDA QR 1 BILLION ON CONSOLIDATED REVENUE OF QR 10.7 BILLION

Company: Mannai Corporation
Release Date: February 27, 2019

Mannai Corporation QPSC (Qatar Exchange: MCCS), today announced its results for the year ended 31st December, 2018.

Mannai Corporation reports Net Profit of QR 407 Million on revenue of QR 10.7Billion for the year ended 31 December, 2018.

The Company’s EBITDA for the year ended 31 December 2018 rose by 18.4% to QR 1 Billion compared to QR 850 Million last year.

While Profit before interest and tax increased by 11% in the year, the overall Net Profit declined by 20%, mainly due to increase in finance costs relating to acquisition funding and higher interest rates.

Earnings per share stood at QR 8.92

The board of directors has proposed a cash dividend of QR 2 per share which is subject to the approval of the shareholders at the Annual General Assembly.

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