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Mannai Corporation Net Profit Falls by 20%
to QR 221.4 Million in Q3 2018
October 31, 2018
Mannai Corporation’s net profit amounted to
QR 221.4 million in the nine month period ended 30/09/2018,
compared to QR 276.8 million for the same period of the previous
year, while its earnings per share reached QR 4.85, versus QR
6.07 for the corresponding period of 2017.
The Group’s Comments:
Mannai’s gross profit rose by 72.3% to QR
5.84 billion, while other revenues dropped by 34.5% to QR110.4
million. The company's profits share in other companies also
declined to QR31.1 million, and the administrative and general
expenses fell by 70.8% to QR1.3 billion. Also, the cost of
financing saw a dip of 75% to QR159.6 million, while tax
expenses tripled to QR66 million. As a result, the net profit
declined by 20% to QR221.4 million, and the comprehensive income
dropped to QR163.5 million.
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