Al Meera Consumer Goods Company has posted a net profit of QR100.9 million ($27.6 million) for the six-month period ended June 30.

 

The firm's sales for the first half of this year grew 13 per cent, from QR1.08 billion to QR1.22 billion, compared to the same period last year, said its semi-annual financial statement.

 

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

 

As of June 30, total equity stood at QR1.4 billion on a capital base of QR200 million, and earnings per share for the period was QR5.04.

 

Dr Mohamed Nasser Al Qahtani, deputy chief executive officer, said: “Profit from the retail segment surged 95 per cent, from QR34 million to QR66.4 million, compared to the same period in 2014, and profit from the leasing segment rose 14 per cent, from QR18.1 million to QR20.7 million. 

 

“The profit from the investment segment was down from QR60.6 million to QR13.9 million, due to unfavourable stock market conditions.”

 

“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 Qahtani added. - TradeArabia News Service