Al Meera Net Profit Rises 7% to QR43.33 Million in First Quarter of 2018

April 29, 2018

Al Meera Consumer Goods disclosed its interim condensed consolidated financial statement for the three months ended on 31 March 2018. The statements show that the net profit attributable to shareholders of the mother company is QR43.33 million, a 7% increase compared to QR40.51 achieved during the same period of the previous year.

Al Meera’s earnings per Share amounted to QR2.17 for the period ended on 31 March 2018, compared to QR2.03 recorded in the corresponding period of 2017.

The Group Comment

Al Meera total profit from core business increased by 10% to QR 115.7 million, and  its revenues from shop rentals and other sources increased by 3% to QR 26 million. Total expenses increased by 7.5% to QR 98 million. As result, net profit posted in this quarter increased by 7% to QR 3.33 million. There was a positive change in the fair value worth QR 5.1 million, thus pushing the comprehensive income up to QR 48.5 million.