Mannai Corp net profit up 43% to QR400mn in 2012

On the back of the successful acquisition of Damas in the second quarter of last year, Mannai Corporation has posted a net profit of QR400mn in 2012, up 43% on 2011.

The results were declared after a meeting of Mannai’s board of directors presided over by vice-chairman Sheikh Suhaim bin Abdulla bin Khalifa al-Thani.

Mannai group’s turnover increased by 108% to QR4.77bn in 2012 compared with QR2.29bn in the same period of 2011.

The company’s return on equity excluding non controlling interest was 25% in 2012. The earnings per share were up 16% to reach QR10.43 in 2012 compared with QR9.01 in 2011.

Read more: http://www.gulfbase.com/news/mannai-corp-net-profit-up-43-to-qr400mn-in-2012/230627