Qatar: Mannai Corporation posts gross profit of $0.3bln on consolidated revenue of 1.5bln for 2024
DOHA: Mannai Corporation yesterday announced its financial results for the year ended December 31, 2024.
The group revenue for the year is QR5.6bn, driven by the jewellery business continuing its year on year growth by 9.4 percent over last year and contributing 26 percent of the total group revenue. The Information and Communication Technology business contributed 50 percent of the total group revenue and 15 percent from automotive group.
The group gross profit was above QR1bn, an increase of 4 percent compared to the last year as a result of improved gross profit margins. Earnings before Interest and Taxes (EBIT) for the period were QR402m.
The net profit for the year was QR171m, slightly ahead of the previous year, after finance costs of QR225m incurred during the year.
Earnings-per-share for the year ended were QR0.37 compared to QR0.37 for the last year.
Our core businesses in Qatar, led by Information and Communication Technology and the Automotive Group, remained major contributors to the group's revenue and net profit.
The last quarter of the year was exceptionally strong in terms of growth and overall profit contribution for the year, helping to deliver the full year Group results. The Group is well-positioned to seize future opportunities and navigate potential challenges effectively.
© Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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