Qatar's Mannai Group posts 43% jump in net profit
- Qatar: Monday, March 04 - 2013 at 06:26
Qatar's Mannai Corp has said its successful acquisition of UAE-based jeweller Damas in the second quarter of last year has pushed by 43% its full-year net profit to QR400m compared with the previous year, Gulf Times has reported. The company's turnover increased by 108% to QR4.77bn in 2012, compared with QR2.29bn in the same period of 2011. "Mannai's acquisition in 2012 of a 66% stake in Damas is a defining moment in the history of the company. With this acquisition the company has taken a major step forward achieving a revenue exceeding $1.3bn," said the chief executive of Mannai Corp, Alekh Grewal.
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