(The Group’s Comment) Almeera Consumer Goods (MERS) Net Profits Increases by 1.8% to QAR 123.62 Million in the 3^rd Quarter 2019

Ø  Profits: Net profits for the first 9 months 2019 amounted nearly QAR 123.63 million compared to QAR 121.34 million for the same period 2018, an increase of 1.89%. Earnings per share amounted QAR 0.62 versus QAR 0.61. The 3^rd quarter profits recorded QAR 28.63 million compared to QAR 28.04 million for the same quarter 2018.

Ø  Revenues: The Company’s sales nearly stabilized to record QAR 2256.0 million compared to QAR 2254.4 million. However, the company was able to reduce its costs by QAR 13.3 million raising the total profit to QAR 372.6 million.

Ø  Expenses: Administrative and general expenses reduced by QAR 29.0 million while the depreciation and amortization expenses increased by QAR 33.5 million caused by the implementation of standard 16. Costs of financing witnessed an increase by QAR 9.0 million during the period.

Ø  Comprehensive income: The Company has recorded profits for the period by QAR 1.56 million against assessment profits for the same period 2018 of QAR 14.47.