Al Meera Consumer Goods Net Profit Drops to QR121.34 Million in Q3 2018

October 29, 2018

Al Meera Consumer Goods Company net profit amounted to QR121.34 million, compared to QR136.70 million for the same period of the previous year, while Al Meera’s earnings per share reached QR6.07 versus QR6.84 for the corresponding period of 2017.

The Group’s Comments:

Al Meera’s gross profit rose by 3.3% to QR357.7 million, while its profits from rents and other sources increased to QR69.4 million. However, the company’s total expenses increased by 15.6% to QR308.4 million. Al Meera’s net profit for the period ended 30/09/2018 decreased by 11.4% to QR121.2 million, but there was a change in the fair value of QR15.5 million, resulting in the increase of the comprehensive income to QR135.8 million from QR116 million recorded in the corresponding period of 2017.