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.
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