Mannai Corporation QPSC (Qatar Exchange: MCCS) held an Ordinary General Assembly Meeting virtually using the Zoom application platform on Monday, 20th March 2023 at 6.30 p.m. in Doha.
H.E. Sheikh Suhaim Bin Abdulla Bin Khalifa Al Thani, Vice Chairman of the Company, chaired the meeting and highlighted the company’s financial performance in 2022.
- Group Turnover: QR 5.3 Billion
- Revenue Growth: 10 percent
- Gross Profit: QR 867 Million
- Net Profit: QR 202 Million
- Earnings Per Share: QR 0.44
Group Revenue for the year was QR 5.3 Billion, a growth of 10% on a like-for-like basis as compared to QR 4.8 Billion last year, excluding discontinued operations, mainly driven by growth in its Information and Communication Technology business in Qatar.
Group Gross Profit for the year increased to QR 867 Million, a growth of 8% on a like-for-like basis as compared to QR 800 Million last year, excluding discontinued operations. Group earnings before interest and tax, excluding one-off impairment provisions, increased to QR 675 Million, representing a 31% increase compared to last year.
The Group Net Profit for the year was QR 202 Million, after an increase in finance costs of QR 35 Million due to the higher interest rates. Earnings per share amounted to QR 0.44 and the shareholders agreed an additional dividend distribution of 10 percent of the nominal value of the shares, equating to QR 0.10 per share, on top of the interim dividend declared in September 2022, bringing total dividends declared for the financial Year 2022 to QR 3.25 per share.