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FINANCIAL NEWS
Qatar’s Mannai reports 15% rise in Q1 profit
22 Apr 2013
(MENAFN) Qatar’s Mannai Corporation’s CEO and Director, Alekh Grewal, stated that the company’s profit climbed by 15 percent in the first quarter, reaching USD23.77 million from USD20.67 million in 2012’s same period, reported The Peninsula.
Grewal said that 52 percent of the period’s net profit came from international acquisitions.
He added that the group’s strategy to diversify its earnings outside Qatar has been crucial in achieving the quarterly results.
It is worth noting that Mannai’s revenues soared by 121 percent in the January-March period, to USD356.8 million from USD169.10 million a year before.
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