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Qatar : MANNAI CORPORATION announces net profit of QR315.1MILLION

August 11, 2014

A net profit of QR315.1m has been announced by Mannai Corporation for the first half of 2014 (H1, 14), up 31.5 percent as compared to QR239.7m during the same period in 2013.

The per share earnings has been raised by 62% at QR6.91 against QR4.25 reported in H1, 13, alleviated via the purchase of the minority interests in its Damas subsidiary. As per the share of the Group`s share of profit rose from QR194m to QR315million.

Inspite of the marginal drop in revenue the group reported impressive growth in profit, that covered successful recoveries of doubtful debts, which were provisioned in previous years.

According to Alekh Grewal, Group Chief Executive Officer and Director, Overseas investments have contributed significantly to our earnings which has enabled the group to achieve a remarkable growth in profits

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Source: TendersInfo (India)

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