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Mannai Corporation Reports Profit of QR 125 Million

Company: Mannai Corporation
Release Date: April 21, 2016

Mannai Corporation QSC (Qatar Exchange: MCCS), today announced its first quarter results for the period ended 31st March 2016.

Financial Highlights on a consolidated basis : 

  • Net Profit achieved QR 124.7 Million on revenues of QR 1.27 Billion.
  • Earnings per share was QR 2.74.
  • Return on Equity 21.2%.

Mannai Corporation reported a net profit of QR 124.7 Million for the three month period ended 31st March, 2016, on revenues of QR 1.27 Billion.

Alekh Grewal, Group Chief Executive Officer & Director said, “decline in revenue has been due to weak consumer sentiments in the retail segment across the GCC, which has resulted in drop in profits during the 1st quarter of 2016.  Qatar businesses have shown strong growth in the B2B segment especially in ICT.  With the acquisition of GFi Informatique during the year, we remain optimistic to achieve improved results going forward”.

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