Doha - Mubasher: Mannai Corp reported a growth in net profits in the fourth quarter of 2016 by 24.7% year-on-year, as shown by the company’s financial results.

Net profits totalled QAR 192.1 million ($52.72 million) in Q4-16 compared to QAR 154 million ($42.26 million) in Q4-14, according to the company’s statement to the Qatar Stock Exchange (QSE).

Annual profits also increased to QAR 535.1 million last year from QAR 532.8 million by the end of 2015.

The board of Mannai recommended the distribution of cash dividends to shareholders for 2016 at QAR 4 per share, or 40% of the capital, with a total value of QAR 182.48 million.