Mannai Corporation posts QR535m net profit

01/03/2017 06:18 AST

Mannai Corporation Group reported a record net profit of QR535m for the full-year ended December 2016. The group’s revenue touched QR4.88bn during the period.

The financial results were announced after the board meeting. Sheikh Suhaim bin Abdullah Al Thani, chaired the meeting.

The company is glad to announce that it increased the net profit to QR535m from the previous year’s QR533m, despite difficult market conditions in the region, he said. The earnings per share (EPS) improved to QR11.73 and return on equity stood at 22 percent. The company has recommended 40 percent cash dividend for 2016, which would be presented before the shareholders at the annual general assembly meeting.

Earnings from GFI Informatique acquired during the year helped in reporting another year of record profit. 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 Peninsula

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