Al Meera H1 net profit up 95pc
Doha, August 23, 2014
Al Meera, a leading retail chain in Qatar, said its net profit for the first half grew by 95.8 per cent to QR112.8 million ($30.9 million) compared to QR57.6 million for the same period last year.
Dr Mohamed Nasser Al Qahtani, Al Meera deputy CEO said: "Al Meera's profits for the first half of this year has grown intensely along with its Earning per Share (EPS) which amounted to QR5.64 as of June 30, 2014 versus QR 3.16 for the corresponding period in 2013."
Dr Al Qahtani pointed out that the retailer was working on its new expansion strategy. "We want to get the construction phase of the new malls accomplished by the end of the fourth quarter in order to achieve a wider spread that satisfies its customers," he noted.
"Once the authorizations and permits required by the concerned authorities are issued, the company will be opening nine new branches in Al Wakra, Al Thumama, Al Wajba, Muaither, Al Azizia, Zakhira, Al Muraikh and Jeryan Nejaima, as well as a branch at a rented property in the Gulf Mall which is set to be open soon," he added.-TradeArabia News Service