Qatar's Mannai's Q1 results show solid growth

The Qatar based diversified automotive, construction and services group Mannai Corporation QSC announced its first quarter results for the period ended 31st March 2015 on April 23.

Financial highlights, on a consolidated basis, included:

• Revenues up 14.33 percent to Qatari Riyals (QR) 1.61 billion (FY2014: QR 1.41 billion).
• Net profit up 10 percent to QR 165.2 million (FY2014: QR 150.1 million).
• Earnings per share rose to QR 3.62 from QR 3.29.
• Return on Equity increased to 32.2 percent compared to 24.3 percent for the year ended 31st December, 2014.

Mannai Corporation reported a net profit of QR 165.2 million for the three month period ended 31st March, 2015, which is an increase of 10 percent over the same period of 2014. Revenue increased 14.33 percent compared to the same period last year.

Alekh Grewal, Group Chief Executive Officer & Director said, “This was an outstanding quarter with exceptional core earnings growth in our businesses.  Despite the continuing weak Oil and Gas prices, we remain optimistic that the new infrastructure projects will continue to provide opportunities.  We are well positioned to secure our fair share of these projects”.