Mannai Corporation reports profit of QR 90 million

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

Financial Highlights

• 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 31^st 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 1^st quarter of 2017. A revenue increase of 7% in ICT and recent cost efficiencies should help profit improvement throughout the remainder of the year”.