Mannai Corporation concluded the acquisition of majority stake in GFI Informatique, a Public Listed company in France during the current year.
With this acquisition, the company is well positioned to become a truly global player with operations in Europe, Africa, GCC and Asia.
The net profit decline was due to depressed market conditions in the retail / luxury segment and general economic slowdown.
However, with diversified earnings potential from across the various business segments and geographies the group is cautiously optimistic of the future.
