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