Al Meera records QR 100.9 mn net profit and 13% increase in sales for H1 2015

Al Meera Consumer Goods Company (QSC) recently disclosed its semi-annual financial statements for the period ended June 30, 2015, with net profit attributable to the owners of the company amounting to QR 100.9 million. 

Dr. Mohamed Nasser Al Qahtani, Al Meera Deputy Chief Executive Officer said: 

    “Profit from the retail segment surged 95%, from QR 34 million to QR 66.4     million, compared to the same period in 2014, and profit from the leasing     segment rose 14%, from QR 18.1 million to QR 20.7 million.” 

    “The profit from the investment segment was down from QR 60.6 million to     QR 13.9 million, due to unfavourable stock market conditions,” he added.

Al Meera's sales for the first half of this year grew 13%, from QR 1.08 to QR 1.22 billion, compared to the same period in 2014. 

These financial results come as a result of Al Meera’s expansion plans to serve the diverse communities in the state of Qatar and meet the needs of all citizens and residents wherever they are, with competitive prices that take into account all segments of society. 

As of June 30, 2015, total equity stood at QR 1.4 billion on a capital base of QR 200 million, and earnings per share for the period was QR 5.04. 

Al Qahtani continued: “We are very pleased to be among the top ten companies listed on the stock exchange in terms of performance, according to “Qatar Today”. We are also very proud of our expansion plan, in line with the Qatar National Vision 2030, to develop all areas of the nation while maintaining competitive pricing, which is suitable for all segments of society.”

Al Meera's new community malls are constructed in a modern and contemporary design. Each mall includes a supermarket, along with shops, restaurants and other stores. The malls are also constructed in accordance with international standards and equipped with the latest interior designs and lighting systems that ensure a distinctive shopping experience.