Mannai Corporation has earned pre-tax profits of QR294mn in the third quarter of this year, the company said in a release.
Group revenue increased by 26% to QR4.4bn and gross profit increased by 24% to QR1bn mainly due to the acquisition of controlling interests in GFI Informatique during the third quarter of the year.
The pre-tax profits showed a decline of 15% 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, Mannai said.
However, the company said “it 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.”
During the year, Mannai 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.
With this acquisition the company now employs more than 20,000 employees of 42 different nationalities in 20 countries.
During the year, Mannai continued with its strategy of diversifying geographically by acquiring controlling interests in GFI Informatique, a French publicly listed major IT company
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