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MANNAI CORPORATION’s PRE-TAX PROFIT UP BY 3% TO QR 553 MILLION ON REVENUE OF QR 7 BILLION

Company: Mannai Corporation
Release Date: March 1, 2018

Following the Mannai Corporation QPSC (Qatar Exchange: MCCS), Board meeting chaired by Sheikh Suhaim Bin Abdullah Al Thani, the company today announced its results for the period ended 31st December, 2017.

The company is pleased to report net profit of QR 506 Million despite difficult market conditions in the region.

  • Group Turnover : QR 7.04 Billion.
  • EBITDA for the year : QR 850 Million.
  • Pre-Tax Profit : QR 553 Million.
  • Return on Equity is 18%.
  • Earnings Per Share : QR 11.09

The company has recommended 40% cash dividend for 2017 to be approved by shareholders at the Annual General Assembly meeting.

Mannai Corporation increased its shareholding in GFI Informatique to 81.21% and consolidated its results from the July 2017 which helped balance the decline in earnings from other businesses. The company’s strategy of diversifying its earnings geographically and across different business segments has enabled the company to maintain its level of profits and is well positioned to take advantage of its diverse capabilities across the various business segments and geographies.

The corporation’s Annual General Assembly will be held at the Al Silia Ballroom, Grand Hyatt Hotel Doha at 06.30 p.m. on Wednesday 21st March, 2018 to which all shareholders are invited.

 

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