Al Meera Net Profit Drops to QR93.28 Million in First Half of 2018

August 07, 2018

Al Meera Consumer Goods’ net profit attributable to shareholders amounted to QR93.28 million, compared to QR102.36 million for the same period of 2017, while its earnings per share recorded QR4.66, versus QR5.12 for the corresponding period last year.

The Group’s Comments:

Al Meera’s total revenues rose by 5.2% to QR298.1 million for the first half of 2018, of which QR250.7 million profit from activity. The company’s total expenses and costs increased by 13.1% to QR204.7 million, which took a toll on the net profit causing it to decrease by 9% to QR93.28 million. The change in fair value was positive by QR6.1 million, compared to the corresponding period of 2017 where it declined by QR11.6 million. As a result, the comprehensive income increased by 9.4% to QR99.4 million.