Qatar- Mannai Corp 2012 profit grows by 43.36%

02 Mar 2013

(MENAFN) Mannai Corporation’s CEO and Director, Alekh Grewal, announced that the company’s profit surged by 43.36 percent in 2012 from a year before to USD109.77 million, reported The Peninsula.

Grewal said that the increase in profits resulted from the purchase of a stake in Damas, during the year’s second quarter.

He added that the company’s turnover soared by 108 percent, reaching USD1.309 billion, up from USD628 million in 2011.

Meanwhile, the company’s board of directors proposed to distribute a cash dividend of USD1.30 on the higher share capital of USD125.19 million.

It is worth noting that in 2011, Mannai Corp posted a net profit of USD76.56 million.

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