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MANNAI CORPORATION REPORTS STRONG FIRST HALF YEAR RESULTS WITH CONSOLIDATED NET PROFIT OF QR 117 MILLION, AN IMPROVEMENT OF QR 320 MILLION COMPARED TO THE SAME PERIOD LAST YEAR.

Company: Mannai Corporation
Release Date: August 11, 2021

Qatar, 11 August, 2021 – Mannai Corporation QPSC (Qatar Exchange: MCCS), today announced its first half year results for the period ended 30th June 2021.

Mannai Corporation reported growth in second quarter revenues of QR 3.7 Billion, a growth of 38% compared to the second quarter of 2020, bringing year to date revenues for the first half year to QR 7.2 Billion, a growth of 36% compared to the first half year of 2020.

EBITDA for the second quarter was QR 323 Million, bringing EBITDA for the first half year to QR 592 Million, a growth of 130% over the first half year of 2020.

Net Profit for the first half year increased to QR 117 Million, an improvement of QR 320 Million compared to the QR 203 Million loss in the same period last year due to the COVID-19 related disruptions.

Mr. Keith Higley, Director, said, “we are pleased to report a solid bottom line of QR 117 Million for the first half year, with all of our major business lines showing a rebound and strong growth following the challenging year of 2020.”

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