Mannai Corporation's Profit Drops 24.2% to QR 166.48 Million in Q2, 2017

August 09, 2017

Mannai Corporation disclosed its reviewed financial statements for the period ended on 30.06.2017. The statements show that the net profit is QR 166.48 Million Compared to net profit amounting to QR 219.64 Million for the same period of the previous year. The Earnings per Share (EPS) amounted to QR 3.65 For the period ended June 30, 2017 to EPS amounted to QR 4.81 for the same period of the previous year.

The Group's Comment

Mannai Corporation's total income from sales dropped 9.5% to QR 549.7 million in the second quarter of this year. Other sources of income and dividends also fell by 31.5% to QR 88.1 million. Total expenses fell by 9% to QR 471.4 million, including 200.8 million as public and administrative expenses; QR 154 million distribution expenses, and QR 116.6 million as financing and depreciation expenses. As result, net profit dropped by 1.8% to QR 166.5 million. The exchange rate of currencies yielded QR 151.5 million, thus bringing the comprehensive income up to QR 318 million.