Mannai Corporation QPSC (Qatar Exchange: MCCS), today announced its financial results for the year ended 31st December 2024.
Group Revenue for the year is QR 5.6 Billion, driven by the Jewellery business continuing its year on year growth by 9.4% over last year and contributing 26% of the total Group Revenue. The Information and Communication Technology business contributed 50% of the total group revenue and 15% from Automotive group.
Group Gross Profit was above QR 1 Billion, an increase of 4% compared to the last year as a result of improved Gross Profit margins.
Earnings before Interest and Taxes (EBIT) for the period were QR 402 Million.
Net Profit for the year was QR 171 Million, slightly ahead of the previous year, after Finance Costs of QR 225 Million incurred during the year.
Earnings-per-share for the year ended were QR 0.37 compared to QR 0.37 for the last year.
Our core businesses in Qatar, led by Information and Communication Technology and the Automotive Group, remained major contributors to the group’s Revenue and Net Profit. The last quarter of the year was exceptionally strong in terms of growth and overall profit contribution for the year, helping to deliver the full year Group results. The Group is well-positioned to seize future opportunities and navigate potential challenges effectively.
