Mannai Enters 75Th Year Of Business In Qatar, Declares 25% Cash Dividend

DOHA: Mannai Corporation held an Ordinary General Assembly Meeting virtually using the Zoom application platform yesterday at 9.30 pm in Doha.

Sheikh Suhaim bin Abdulla bin Khalifa Al Thani, Vice Chairman of the Company, chaired the meeting and highlighted the company's financial performance in 2024.

Mannai enters its 75th year of business in Qatar, continuing to support the nation's development with its diversified portfolio of trading and services. As a public listed company, Mannai Corporation has continued to deliver shareholder value and maintained a robust year-on-year dividend yield amounting to QR3.9bn cash dividends paid to its shareholders since listing on the Qatar Exchange.

The Group revenue for the year was QR5.6bn driven by Mannai's Information and Communications Technology business which contributed 50 percent of revenues. The Group Gross Profit was above QR1bn, an increase of 4% compared to the last year as a result of improved Gross Profit margins.

Earnings before Interest, Taxes, Depreciation and Amortisation (EBITDA) for the period were QR589m.

The net profit for the year was QR171m, slightly ahead of the previous year. Earnings per share amounted to QR0.37, with the Board declaring a dividend distribution of 25 percent of the nominal value of the shares, equating to QR0.25 per share.

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