Qatar-based Al Meera Consumer Goods Company, a firm engaged in the purchase and sale of consumer goods, has revealed a major net profit of 15.5 per cent for the year ended December 2014, in comparison to the previous year.

Mohammed Nasser Al Qahtani, deputy chief executive officer at Al Meera, said: “The profit grew to QR226.6 million ($62.2 million) from QR196.1 million ($53.8 million) in 2013.”

“Meanwhile, Al Meera's board of directors has recommended distributing a cash dividend of QR9 per share, which is equivalent to 90 per cent of the nominal share value. Notably, the company’s revenue also reached QR2.2 billion ($604.1 billion), which is 11.8 per cent higher than 2013,” he added.

The latest Al Meera's financial results come as the company maintains its expansion plans adhering to its motto “the favourite neighbourhood retailer” and aiming 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. Al Meera also aims through these plans to achieve greater profitability for its shareholders, said a company statement.

Al Qahtani said: “The year 2014 saw a remarkable success not only at the profits level but in regards to our ongoing expansion plan.”

“The past year has witnessed the completion of nine new state-of-the-art community shopping malls located at Muraikh, Al Azizia, Muaither, Jeryan Nejaima, Thakhira, Al Wakra, Al Thumama, Al Wajba, Rawdat Ekdeem in addition to a rental branch ready to open at Gulf Mall,” he added. – TradeArabia News Service