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.