Mannai Corporation QPSC (Qatar Exchange: MCCS) today announced its financial results for the year ended 31st December 2022.
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 865 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 676 Million, representing a 31% increase compared to last year.
Finance costs for the year increased by QR 35 Million, an overall increase of 15% over last year, due to the interest rate increases in prime lending rates throughout the year and in particular during the second half of 2022.
Group Net Profit for the year was QR 202 Million and the Earnings-per-share for the year ended were QR 0.44.