Al Meera posts record $10.75m Q1 profit
Doha, April 24, 2014
Al Meera Consumer Goods Company has posted a record net profit of QR39.2 million ($10.75 million) doe the first quarter of 2014 as compared to QR25.7 million for the same period in 2013, an increase of 52.12 per cent.
Sales in first quarter of 2014 grew by 14.56 per cent, from QR443.8 million to QR508.4 million, compared to the same period in 2013.
Last year, Al Meera increased total retail space by 4,100 sq m. In 2014, Al Meera has eight malls currently under construction and 1 store under fit out, with all expected to be completed later in 2014. The malls are located at Al Wakra, Al Thumama, Al Wajba, Muaither, Al Azizia, Al Thakira, Muraikh, and Jeryan Nujaima, in addition to the rented store located in the Gulf Mall (1,750 sq m).
All new malls will be built to stringent international standards and outfitted with the latest interior design style and modern lighting system, and will have the “look and feel”, similar to that of Lqutaifiya Mall, a statement said.
The contemporary concept will cover all of Al Meera’s supermarkets, shops, restaurants, and other stores. – TradeArabia News Service