Mannai Profits Up 27%

Mannai Corporation have reported a net profit of QR 65 Million in the first quarter of 2010, up by 27% against the same period last year.

This follows a 26% increase in Net Profit reported for the year ended 31st December, 2009.

Despite a marginal dip in sales due to the global economic situation, the increase in net profit was achieved due to the diversity of the businesses.

Alekh Grewal, Chief Executive Officer said, “The continued growth in profits was achieved largely due to the diversity of our businesses and improved efficiencies by better utilization of resources”.

The earnings per share (EPS) for the quarter increased to QR 2.74 compared to QR 2.16 for the quarter ended March 2009.