Mannai Corporation Reports Profit of QR 90 Million

Release Date:

26 April 2017

Mannai Corporation QPSC (Qatar Exchange: MCCS), today announced its first quarter results for the period ended 31st March 2017.

Financial Highlights:

  • ‚ÄčNet Profit achieved QR 90.1 Million on revenues of QR 1.2 Billion
  • Earnings per share was QR 1.97.

Mannai Corporation reported a net profit of QR 90.1 Million for the three month period ended 31st March, 2017, on revenues of QR 1.2 Billion.

Alekh Grewal, Group Chief Executive Officer & Director said, “an overall decline in revenue has been mainly due to weak consumer sentiment in the retail segment across the GCC, and a subdued trading environment, which has resulted in a drop in profits during the 1st quarter of 2017.   

A revenue increase of 7% in ICT and recent cost efficiencies should help profit improvement throughout the remainder of the year”.