Mannai Corp. Net Profit Rises by 0.6% to QR167 Million in First Half of 2018

August 05, 2018

Mannai Corporation’s net profit amounted to QR167 million, compared to QR166 million for the same period last year, while its earnings per share recorded QR3.66, versus QR3.65 for the corresponding period of 2017.

The Group's Comments:

Total profits of Mannai Corp. doubled by 119% to QR1.2 billion, and expenditures increased by 131.2% to QR820 million, while other income streams decreased by 22% to QR61.1 million. The corporation paid income tax of QR41.3 million, and its financing expenses increased by 81.3% to QR129.8 million, in addition to an increase in its depreciation expenses by 135% to QR105.6 million. As a result, the net profit stood at QR167 million with a slight increase. It should be noted that there were currency losses of QR50.3 million, causing the comprehensive income to drop to QR117.4 million from QR318 million recorded in the corresponding period of 2017.