Mannai Corporation Net Profit Grew By 78 Percent To Qr67m In H1 2024
Date
8/15/2024 8:02:54 AM
(MENAFN- The Peninsula)
The Peninsula
Doha: Mannai Corporation QPSC (Qatar Exchange: MCCS), yesterday announced its first half year results for the period ended 30th June 2024.
Group revenue increased by 6% to QR2.8bn for the first half of 2024 as compared to the same period of last year 2023, mainly driven by growth in the Jewellery and Information & Communication technology businesses.
Group gross profit for the period was QR520m, representing an 11% increase compared to QR469m for the same period last year, the result of the Revenue growth along with improved margins.
Group earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) for the period grew by 6% to QR269m compared to QR252m for the same period last year. Group earnings before Interest and Taxes (EBIT) grew by 7% for the period to QR176m compared to QR165m for the same period last year.
Group net profit for the period increased by 78% to QR67m for the first half year compared to QR38m for the same period last year, driven by the Jewellery and Information & Communication Technology businesses along with QR19m savings in Finance Costs.
It is pleasing to see the increased activity across our broad range of businesses as we enter the second half of the year.
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