Mannai Corporation posted a gross profit of QR682mn in nine months up to September, up 8% on the same period in 2022, the company announced last night.
Net profit for the period was QR43mn after finance costs of QR190mn, which increased significantly over the same period last year due to the increased bank interest rates.
Group revenue for the nine-month period was 3% above the same period last year at QR4bn.
Earnings before interest and taxes (EBIT) for the period were QR234mn. On a like-for-like basis, excluding profits from discontinued operations, this was an increase of QR93mn over the same period last year.
“The last quarter of the year is historically the strongest for the Corporation, and we are expecting to build on this growth for a successful close to the year,” Mannai Corporation noted.
