Friday 29 March 2024
 
»
 
»
Story

Mannai plans expansion

Doha, August 7, 2007

The Qatar-based Mannai Corporation, a major trading and services group, is planning ‘selective’ regional expansion, a report said.

The firm, shares of which will start trading on the Doha Securities Market (DSM) from Wednesday (August 8),  is also keeping its options open on acquisitions in the domestic market, the Qatar Times report said.

Mannai, which reported 39 per cent gains in its net profit to QR50.12 million ($13.76 million) in the first six months of the year, also expects its core business to drive growth, according to its medium-term strategy.

“We plan to seek new business opportunities in Qatar by way of joint ventures or acquisitions to further expand the scope of our domestic business,” the firm was quoted as saying by the report.

Mannai Corp’s IT subsidiary, the India-based Mansoft Solutions and Systems established a subsidiary in Bahrain in the first quarter and is planning to have a marketing presence in Dubai later this year with the aim of enlarging its share in the region, it said.

Mannai Corp’s total assets were valued at QR828.20 million, comprising current assets of QR620.10 million and non-current assets of QR208.10 million in the first half of this year.




Tags: Qatar | Expansion | Mannai Corporation |

calendarCalendar of Events

Ads