MANNAI CORPORATION REPORTS STRONG FIRST QUARTER WITH CONSOLIDATED REVENUE GROWTH OF 35% AND NET PROFIT GROWTH OF 260% PERCENT TO QR 33 MILLION

Mannai Corporation QPSC (Qatar Exchange: MCCS), today announced its first quarter results for the period ended 31^st March 2021.

Mannai Corporation reported a growth in first quarter revenues to QR 3.6 Billion, a growth of 35% percent compared to the first quarter of 2020.

EBITDA for the quarter grew to QR 270 Million, an increase of 44% compared to the first quarter of 2020. Earnings Before Interest and Tax increased by 63% to QR 150 Million.

Net Profit for the first quarter was QR 33 Million, an improvement of QR 54 Million and an increase of 260% percent compared to the first quarter of 2020, which was impacted by the COVID-19-related closures which restricted trading during the year.

Mr. Keith Higley, Director, said, “We are pleased to report a solid bottom line of QR 33 Million, with all our major business lines showing a rebound following the challenging year of 2020.”