Mannai Corporation's Profit Rises 0.4% to QR535.1 Million

 

February 28, 2017

 

Mannai 's net profit is QR535.1 compared to QR 532.8m for the same period of the previous year. EPS amounted to QR11.73 compared to QR11.68 for the same period of the previous year. The company has recommended 40% cash dividend.

 

The Group's Comment  

 

Mannai's operational income increased by 11.8% to QR1184.7 million in 2016. Other sources of income and revenues from associate companies also increased by 61.3% to QR332.2 million. Administrative and public expenses declined by 9.8% to QR743.4 million. Deducting financing cost worth QR 127.7 million, amortization worth 108.3 million, taxes, then net profit attributable to shareholders settles at QR 535.1 million, slightly up from last year.  The company also incurred losses worth QR129.7 million as result of negative exchange rates, which reduced the comprehensive income to QR 405.3 million.