Mannai Corp. Net Profit Rose to QR91.4 Million in First Quarter of 2018

April 30, 2018

The net profit of Mannai amounted to QR91.4 million in the first quarter of 2018, compared to QR90.1 million for the same period last year. The corporation’s earnings per share recorded QR1.99 in this quarter, versus QR1.97 for the corresponding period of 2017.

The Group’s Comments:

Mannai’s gross operating profit doubled to QR580.9 million in this first quarter. The company generated QR26.5 million from other income and from its share in profits of associates. Expenses shot up to more than the double, and amounted to QR392.5 million, financing costs increased as well to QR57.8 million, and the cost of amortization rose to QR48.7 million. After deducting QR17.1 million in taxes, the net profit for this quarter increased slightly to QR91.4 million, of which QR90.7 million is attributable to shareholders, a slight increase compared to the corresponding period of 2017.