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MENAFN - The Peninsula - 02/03/2014
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(MENAFN - The Peninsula) Mannai Corporation Group's net profit grew by 16.3 percent to QR539m in 2013. International acquisitions contributed 61 percent of net profit.



The revenue is up 17.5 percent to QR5.6bn for the year compared to QR4.7bn for the same period in 2012. The financial results were announced after the board of directors' meeting chaired by Mohamed Al Kubaisi. The group turnover increased by 17.5 percent to QR 5.6bn as compared to QR 4.7bn in 2012. The net profit increased by 11.4 percent to QR 446m



The company increased its stake in Damas International by an additional 15 percent through acquiring the remaining shareholding of the founder shareholders, thereby increasing Mannai's shareholding to 81 percent



Alekh Grewal, Group CEO and Director said, "our international diversification strategy has contributed 51 percent of revenues from international operations.


 






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