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31/10/2017 06:10 AST
Mannai Corporation recorded a group revenue of QR4.4bn for the third quarter of 2017, up 26 percent from a year ago. The gross profit increased by 24 percent to QR1.0bn. During the year the company continued with its strategy of diversifying geographically by acquiring controlling interests in GFI Informatique a French publicly listed major IT company operating in France and 16 other countries in Europe, Africa and Latin America. The increase in the gross profit is mainly due to the acquisition of controlling interests in GFI Informatique.
With this acquisition the company now employs over 20,000 employees of 42 different nationalities in 20 countries. The pre-tax profits showed a decline of 15 percent (QR294m) compared to the previous year, partly due to increase in finance cost incurred for funding the acquisition and the general market condition in the region.
However, the company is optimistic of improving the performance in the long term on the back of overseas investments made in the recent past and other opportunities in Qatar as the country embarks on major infrastructure projects for hosting FIFA World Cup in 2022.
The Peninsula
01/03/2018
Mannai Corporation's shareholders yesterday accorded approval to its $600mn (QR2.18bn) bond, which is expected to hit the market by the second week of April.
The Qatari company, which last
Gulf Times
04/12/2017
Mannai Corp held its Extraordinary General Assembly Meeting yesterday at Intercontinental Hotel, Al Wajba Ballroom.
The meeting, chaired by Sheikh Suhaim bin Abdulla al-Thani, vice chairman
Gulf Times
19/11/2017
Commercial Bank's Transaction Banking Department has partnered with Mannai Corporation by implementing the bank's Corporate Trade Portal. Commercial Bank's Corporate Trade portal is a user-friendly p
Gulf Times
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10/03/2025
Doha Bank introduced a suite of exclusive offers for NRIs on their Visa Platinum Debit Card, delivering exceptional value across travel, lifestyle, dining, and retail. These carefully curated benefit
The Peninsula
10/03/2025
Saudi Awwal Bank has been awarded the Sustainability Program of the Year 2024 at the Capital Markets Forum (CMF), organized by the Saudi Stock Exchange Group (Tadawul).
This achievement make
Saudi Gazette
10/03/2025
Saudi Aramco has lowered its crude oil prices for Asian buyers in April, marking the first reduction in three months. This price cut aligns with market expectations and follows the decision by OPEC+
Arab News
09/03/2025
United Development Company (UDC), the master developer of The Pearl and Gewan Islands, has continued its global track record of accomplishments by securing three new Guinness World Records. This rema
The Peninsula
07/03/2025
Talabat Kuwait has denied rumors of a security breach, assuring customers and partners that all personal and payment information remains fully secure.
In an official statement, Bader Al-Ghan
Trade Arabia
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