Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar- Mannai Corp Q1 Net Profit up 73% to QR 150.1 Million  Join our daily free Newsletter

MENAFN - Qatar News Agency - 24/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Qatar News Agency) Doha April 24 - Qatar Exchange listed Mannai Corporation (QE: MCCS) net profit is up 73% to QR 150.1 Million for the first quarter of fiscal year 2014 ending March 31 compared with QR 86.7 Million for FY 2013 the company announced.

The Qatari company's earnings per share jumped to QR 3.29 from QR 1.90. Revenues are up 4% to QR 1.4 Billion compared with QR 1.3 Billion in FY2013.

Return on equity increased to 33.5% compared to 22% for the year ended December 31 2013.

Other income includes capital gains and recovery of doubtful debts provisioned in prior years in Damas.

Mannai Group Chief Executive Officer and Director Alekh Grewal said "Continued growth in profits reiterates the Board of Directors' vision to build a strong international business."Damas is now a wholly owned subsidiary of Mannai after it bought minority shareholders in Damas International Limited (DIL) during the first quarter of 2014 he said.

DIL operates as an integrated jewellery and watch retailer primarily in the Middle East. It trades in gold and gold jewellery diamond jewellery pearls watches silver and precious stones.

Mannai Corp is in good position to secure "a fair share" of Qatar's new infrastructure development projects on the way Grewal said.


 


Qatar News Agency




  MENA News Headlines
 Jul 1 2015 - Kuwait MPs pass $23.2 bn deficit budget on oil slideAFP
(MENAFN - AFP) Kuwait parliament Wednesday passed the 2015/2016 state budget which projects a 7.0-billion dinar ($23.2 billion) deficit due to the sharp drop in oil prices. Forty-seven MPs voted for ...

 Jul 1 2015 - Ban Ki-Moon Appeals for Implementing Geneva Communique on SyriaQatar News Agency
(MENAFN - QNA) Secretary-General of the United Nations Ban Ki-moon has called on to put an end to the suffering of the Syrian people and to find an exit from this madness. In a statement read by a ...

 Jul 1 2015 - UN: 137,000 Flee Across Mediterranean in First Half YearQatar News Agency
(MENAFN - QNA) Some 137,000 fled across the Mediterranean to Europe in the first half of the year, nearly double the amount seen in the same period last year, the UN Refugee Agency (UNHCR) said ...

 Jul 1 2015 - Lebanese Army Kills Five Nusra Gunmen in Arsal OutskirtsQatar News Agency
(MENAFN - QNA) The Lebanese Army killed five militants in northeastern border town of Arsal, while they were attempting to sneak between Arsal and its outskirts, the Army said in a statement ...

 Jul 1 2015 - Jordan- Cooking gas cylinders' price reduced, gasoline's price unchangedJordan News Agency
(MENAFN - Jordan News Agency) Cooking gas cylinders' price will be reduced, while fuel prices will remain unchanged through the month of July, Minister of Industry, Trade and Supply, Maha Ali, ...

 Jul 1 2015 - US to Remove Ban on Security Aid to BahrainJordan News Agency
(MENAFN - Jordan News Agency) The United States lifted its ban on sending security aid to the government of Bahrain due to progress on human rights issues, US State Department spokesperson John Kirby ...

 Jul 1 2015 - Obama offers help to TunisiaJordan News Agency
(MENAFN - Jordan News Agency) US President Barack Obama offered condolences to Tunisian leader Beji Caid Essebsi Monday, after the militant attack that killed 38 people and left the future of the ...

 Jul 1 2015 - Jordan - Moderate weather forecast until FridayJordan News Agency
(MENAFN - Jordan News Agency) The weather will be moderate on Wednesday in the hilly areas, relatively hot in the Badia, and hot in the Jordan Valley and Aqaba, with northwesterly moderate ...

 Jul 1 2015 - Jordan- The Amman Stock Exchange starts trading on higher noteJordan News Agency
(MENAFN - Jordan News Agency) The Amman Stock Exchange (ASE) opened trading on Wednesday with a rise to 2117 points compared to 2115 points of last session closure, according to market sources.The ...

 Jul 1 2015 - Israeli forces move into Deir al-BalahJordan News Agency
(MENAFN - Jordan News Agency) Israeli occupation forces on Wednesday morning made an incursion into east of Deir al-Balah in the central of the Gaza Strip.Palestinian sources said that Israeli ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help