Mannai reports QR220m profit

11/08/2016 05:17 AST

Mannai Corporation reported a net profit of QR220m for the first half of 2016. The revenue touched QR2.5bn. 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, it said in a statement yesterday.

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.


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