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Mannai Corporation reports profit of       QR 165 Million an increase of 10% in net profits

Company: Mannai Corporation
Release Date: April 23, 2015

Mannai Corporation QSC (Qatar Exchange: MCCS), today announced its first quarter results for the period ended 31st March 2015.

Financial Highlights on a consolidated basis

  • Revenues up 14.33% to Qatari Riyals (QR) 1.61 Billion (FY2014: QR 1.41 Billion).
  • Net profit up 10% to QR 165.2 Million (FY2014: QR 150.1 Million).
  • Earnings per share rose to QR 3.62 from QR 3.29.
  • Return on Equity increased to 32.2% compared to 24.3% for the year ended 31st December, 2014.

Mannai Corporation reported a net profit of QR 165.2 Million for the three month period ended 31st March, 2015, which is an increase of 10% over the same period last year. Revenue increased 14.33% compared to the same period as last year.

Alekh Grewal, Group Chief Executive Officer & Director said, “This was an outstanding quarter with exceptional core earnings growth in our businesses.  Despite the continuing weak Oil and Gas prices, we remain optimistic that the new infrastructure projects will continue to provide opportunities.  We are well positioned to secure our fair share of these projects”.

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<span style="text-align:left"> Tel: (+974) 4455 8888 </br> Fax: (+974) 4455 8880</br> Email: info@mannai.com.qa </span>

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