Khalid Mannai, Vice-Chairman, Executive Committee, Mannai Corporation
Mannai Corporation, one of the most diversified companies in the country, is upbeat about its performance in 2019 and beyond, despite the market challenges.
The Doha-based publicly listed Group has established partnerships and collaborations with several companies, including some of the world’s leading companies for decades. Recently a subsidiary of Mannai Group signed an agreement with Siemens to expanded cooperation aiming to provide more specialised services to the oil and gas industry as part of efforts to achieve self-sufficiency in Qatar.
“We are consolidating some of our operations to make them more efficient, reliable and sustainable. We are also collaborating with companies having activities and operations in specialised services for some critical sectors such as oil and gas,” Khalid Mannai, Vice-Chairman (Executive Committee) of Mannai Corporation told The Peninsula on the sidles of an event recently.
“Mannai is a company with a well-diversified investment portfolio, both in terms of sector as well as geography. In addition to its extensive operations in Qatar, the company has big presence in different markets, including Europe”, he added.
On the Group’s 2019 performance, Mannai said: “Like most other companies in Qatar and other parts of the world, Mannai also goes through the economic cycle of growth. The revenue and profitability of any company does not remain constant all the time. Sometimes it goes up sometimes it goes down because not all the markets perform the same. We do not speculate or comment on revenue and profitability, but we are always optimistic about our solid performance.”
He also noted that if there is a slowdown in international market, it is balanced with better performance in local market and vice-versa. That’s the idea most companies prefer to have diversified investment portfolio to minimise risk exposure and remain resilient.
“Its cyclical like any other businesses. It is applicable to all organisations. You will always see that the revenue stream is not always the same. Sometimes you have more revenues from Qatar and sometimes from overseas markets. At the end of the day we as a publicly listed company working to protect the interests of our shareholders,” he said.
On the company’s plans to investing in new markets and sector, Mannai said that the Group is currently focusing on the existing businesses and operations both in Qatar as well as outside the country, and working to further develop and strengthen its activities.
