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(The Group’s Comments) Al Meera's Net Profit Rises to
QAR 95 Million for the First Half of 2019
August 07, 2019
Profits: Al Meera Consumer Goods’ net profit,
after excluding minority interest, amounted to about QAR 95.0
million for the first half of 2019, compared to QAR 93.3 million
for the first half of 2018, up by 1.8%, while its earnings per
share reached QAR 0.47, similar to the corresponding period of
2018. As for the second quarter, Al Meera posted a net profit of
QAR 65.0 million, virtually unchanged compared to the profits of
the first half of 2018.
Revenues: the company's sales during the first
quarter of 2019 increased by 1.12% to QAR 1,581.0 million,
compared to QAR 1,563.4 million for the same period last year,
and the total profit (sales - costs) climbed to QAR 257.1
million, versus to QAR 250.1 million for the first half of 2018.
The ratio of sales costs to sales constitute about 84%.
Expenses: general and administrative expenses
decreased by 15% to QAR 149.2 million in the first half of 2019,
compared to QAR 170.5 million for the same period in 2018, while
depreciation and amortization expenses increased by about QAR 21
million, as well as financing costs by about QAR 6 million due
to the application of Standard No. 16.
Comprehensive Income: Al Meera
recorded an assessment profit for the first half of 2019 of
about QAR 4.6 thousand compared to about QAR 6.1 million for the
first half of 2018.
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