DOHA: The Qatar Exchange’s efforts in obtaining MSCI Emerging Market status, coupled with market liquidity measures recently introduced by the bourse, has resulted in a record increase both in the trading of Mannai’s shares and in the number of international shareholders in Mannai, Sheikh Suhaim bin Abdulla Al Thani, Vice-Chairman, Mannai Corporation, has said.
Addressing the annual general assembly and extraordinary assembly meetings of Mannai Corporation on behalf of Sheikh Hamad bin Abdulla Al Thani, Chairman, Mannair Corporation, here yesterday, Sheikh Suhaim said the number of foreign shareholders, mainly institutions, more than doubled by the end of the year 2014.
He said the diversification of Mannai’s business sustained the continued annual trend of increased profits. Mannai’s IT business made a particularly strong contribution, as did the Automotive & Heavy Equipment businesses. Whereas, there was a drop in the contribution from the company’s 35 percent stake in Axiom Telecom due to margin pressures in the handset sector during the year.
The consolidated net profit of Mannai Corporation grew by 18 percent to QR526m in 2014 from QR446m recorded in 2013.
Sheikh Suhaim bin Khalifa Al Thani (centre), Vice-Chairman, Mannai Corporation, addressing general and extraordinary assembly meetings along with other board members at Intercontinental Hotel yesterday.
The Peninsula
