Doha: Mannai Corporation’s net profit for the financial year ended December 31, 2012, increased by 43.36 percent to QR400m compared with QR279m in 2011, according to a QE notification yesterday. The group’s turnover increased by 108 percent to QR4.77bn as compared to QR2.29bn during the same period of 2011. The earnings per share (EPS) was up by 16 percent to QR10.43 compared to QR9.01 in 2011. The board of directors has recommended the distribution of cash dividend of 47.5 percent (QR4.75 per share) on the increased share capital of QR456.19m. The group attributed the 43.36 percent increase in profit to the acquisition of a stake in Damas in the second quarter of 2012, Mannai Corp CEO and Director Alekh Grewal said. The group’s annual general assembly will be held at the Al Silia Ballroom, Grand Hyatt Hotel Doha, at 6pm on March 20.