Mubasher: Qatar’s Mannai Corporation on Thursday posted a 19.3% year-on-year surge in its profits during the fourth quarter of 2017, compared to the year-ago period.

Mannai’s profits amounted to QAR 229.36 million ($6298 million) during Q4-17, compared to QAR 192.19 million ($52.78 million) in the same period a year earlier, according to a statement to the Qatar Stock Exchange (QSE).

While the Qatar-based firm posted a 5.4% decline in profits, registering QAR 506.14 million during the full-year 2017, compared to QAR 535.12 million in the year before.

Mannai’s board of directors recommended distributing 40% of the share nominal value in cash dividends or QAR 4 per share. 

Earnings per share (EPS) hit QAR 11.09 for the period ended 31 December 2017 versus QAR 11.73 in the corresponding period in the previous year.

By 9:59 am Qatar time, Mannai's stock rose 4.54% to QAR 62.18.