Mannai Corporation has posted a first quarter net profit of QR33mn, an improvement of QR54mn and an increase of 260% compared to the first quarter of 2020.
The first quarter of 2020 was impacted by the Covid-19-related closures, which restricted trading during the year.
Mannai reported a growth in first quarter revenues to QR3.6bn, a growth of 35% compared to the first quarter of 2020.
EBITDA for the quarter grew to QR270mn, an increase of 44% compared to the first quarter of 2020.
Earnings before interest and tax increased by 63% to QR150mn, Mannai said on Saturday.
Keith Higley, Mannai Corporation director, said, “We are pleased to report a solid bottom line of QR33mn, with all our major business lines showing a rebound following the challenging year of 2020.”
