Mannai Corporation has posted a net profit of QR533mn in 2015 on a group turnover of QR5.9bn, the company said yesterday. The results were announced after a meeting of Mannai’s board chaired by Sheikh Suhaim bin Abdullah al-Thani here recently.
The company’s overseas operations contributed 43% of the overall profit of the group.
The return on equity stood at 24%, while earnings per share (EPS) were QR11.68 in 2015, Mannai said.
The company’s board of directors has recommended a dividend of 50% (QR5 a share) to the shareholders for approval at the company’s 9th annual general assembly.
Mannai group chief executive officer and director Alekh Grewal said, “Qatar’s strong commitment to infrastructure development has enabled us to report exceptional results in our local businesses. Though the group’s net profit is marginally ahead of last year, the reality is that core profit have grown by 21%, taking into account that we did not have the same level of ‘one-off’ recoveries from Damas restructuring activities, which concluded in 2014”.
Mannai said its annual general assembly will be held at the Al Silia Ballroom, Grand Hyatt Hotel Doha on March 23 at 4pm, to which the company has invited all its shareholders.