Mannai Corp posts H1 profit of QR220mn on QR2.5bn revenue

Mannai Corporation has reported net profit of QR220mn on revenue of QR2.5bn in the first six months of this year.The net profit decline was due to depressed market conditions in the retail/luxury segment and general economic slowdown, a Mannai spokesman said.However, with diversified earnings potential from across the various business segments and geographies the group is cautiously optimistic of the future, he said.The company concluded the acquisition of majority stake in GFI Informatique, a public listed company in France during the current year.With this acquisition, Mannai is well positioned to become a truly global player with operations in Europe, Africa, Gulf Cooperation Council and Asia.