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- Oil Updates - prices nudge higher amid economic uncertainty, OPEC+ supply fears
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31/10/2017 06:10 AST
Mannai Corporation recorded a group revenue of QR4.4bn for the third quarter of 2017, up 26 percent from a year ago. The gross profit increased by 24 percent to QR1.0bn. During the year the company continued with its strategy of diversifying geographically by acquiring controlling interests in GFI Informatique a French publicly listed major IT company operating in France and 16 other countries in Europe, Africa and Latin America. The increase in the gross profit is mainly due to the acquisition of controlling interests in GFI Informatique.
With this acquisition the company now employs over 20,000 employees of 42 different nationalities in 20 countries. The pre-tax profits showed a decline of 15 percent (QR294m) compared to the previous year, partly due to increase in finance cost incurred for funding the acquisition and the general market condition in the region.
However, the company is optimistic of improving the performance in the long term on the back of overseas investments made in the recent past and other opportunities in Qatar as the country embarks on major infrastructure projects for hosting FIFA World Cup in 2022.
The Peninsula
01/03/2018
Mannai Corporation's shareholders yesterday accorded approval to its $600mn (QR2.18bn) bond, which is expected to hit the market by the second week of April.
The Qatari company, which last
Gulf Times
04/12/2017
Mannai Corp held its Extraordinary General Assembly Meeting yesterday at Intercontinental Hotel, Al Wajba Ballroom.
The meeting, chaired by Sheikh Suhaim bin Abdulla al-Thani, vice chairman
Gulf Times
19/11/2017
Commercial Bank's Transaction Banking Department has partnered with Mannai Corporation by implementing the bank's Corporate Trade Portal. Commercial Bank's Corporate Trade portal is a user-friendly p
Gulf Times
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28/04/2025
Lubna S. Olayan, Chair of the Board of Directors of Saudi Awwal Bank (SAB), announced on Sunday the bank's financial results for the period ending 31 March, 2025.
For the first three months
Saudi Gazette
28/04/2025
stc announced its preliminary financial results for the period ending March 31, 2025, highlighting strong performance across key metrics.
Revenues for the first quarter reached SR19,210 mill
Saudi Gazette
28/04/2025
Arab Bank Group has reported solid results for the first quarter of 2025, with 7 % increase in net income after tax reaching $ 271 million, compared to $252.8 million for the same period last year.
Trade Arabia
28/04/2025
Aluminium Bahrain (Alba), the world's largest aluminium smelter on one site, has cemented its position as a regional leader in industrial innovation by becoming the first aluminium smelter in the Mid
Trade Arabia
26/04/2025
Adnoc Distribution, a leading fuel distributor and convenience store operator, has unveiled plans for a major expansion of its electric vehicle (EV) charging infrastructure, increasing its charging p
Trade Arabia
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