Mannai Corporation’s half yearly revenue increased by 10% to QR5.7bn compared to QR5.1bn in the same period last year.

The gross margin of the Mannai Corporation Group stood at QR1.2bn, the Qatar Exchange-listed company said Tuesday.

Earnings before interest, tax, depreciation and amortisation (EBITDA) in the first half rose by 21% to QR536mn compared to QR444mn in the same period last year.

While profit before interest and tax expenses increased to QR341mn, the net profit of the group declined by 47% to QR88.5mn in the first half of the year.

During the period, interest expenses increased by 58% to QR205.1mnn compared to QR129.7mn last year as a result of the increased investments in the Information Technology segment.

The Information Technology segment delivered increased revenues of 17%, 80% of the group’s first half revenues and EBITDA growth of 45% compared to first half of 2018, Mannai Corporation said.