Mannai Corporation QPSC (Qatar Exchange: MCCS) today announced its first half results for the period ended 30 June 2022.
After the period ended June 30, 2022, the Group completed the winding-up of its investment in Enetum SA (formerly known as GFI Informatique) following the satisfactory completion of mandatory legal and regulatory approvals. As a result, the Group liquidated its investment in Enetum SA and received cash proceeds of €1.052 billion from the settlement on July 21, 2022.
The Board of Directors of Mannai Corporation QPSC has decided to convene a general meeting on September 7, 2022 at 18:30 Doha local time in order to pay out the preliminary balance from the portion of the net cash remaining after the sale of Enetum SA after settlement of the respective bank financing dividend may Tobe offered. ,
The first half results reported for the period ended June 30, 2022 exclude Enetum SA as it is classified as a closed operation in the income statement and as assets held for sale in the balance sheet. Accordingly, consolidated revenue on a like-to-like basis increased by 11% to QR 2.6 billion compared to QR 2.4 billion in the same period last year.
Group gross profit increased by 12% to QR 489 million in the first half and consolidated EBITDA to QR 293 million.
The Group’s net profit for the first half is QR 90 million, after allowing for a conservative provision of QR 63 million related to the winding-up of Inetum SA, compared to QR 117 million for the same period last year. On a normalized basis, excluding this specific provision, net profit is QR 153 million, an increase of 31% over the same period last year.
Very positive trading for the first six months resulted in a 40% increase in the underlying net profit generated by Qatari companies for the first half of the year.
Mannai Corporation QSC This material published August 14, 2022 and is solely responsible for the information contained therein. circulated by the public, unedited and unmodified, but Aug 14, 2022 18:52:03 UTC,