Tuesday 19 March 2024
 
»
 
»
Story

Al Meera posts 14.6 jump in Q1 profits

DOHA, April 27, 2016

Qatar-based Al Meera Consumer Goods Company has recorded a net profit of QR49.4 million for the first quarter of 2016 as compared to QR43.1 million ($13.5 million) for the same period in 2015, marking an increase of 14.6 per cent.

Similarly, sales in the first quarter of 2016 grew by 13.7 per cent, to reach QR641.2 million by the end of the first quarter of 2016, compared to QR564.1 million in the same period of 2015.

Meanwhile, Earnings per Share (EPS) amounted to QR2.47 in first quarter of 2016 versus QR2.15 for the same period of the previous year.

Shops rental income also increased in the first quarter of 2016 by 52.4 per cent, to QR17.5 million from QR11.5 million for the same period of 2015.

Dr Mohammed Nasser Al Qahtani, Deputy CEO of Al Meera Consumer Goods Co, said: “The effective steps that have been carried out by Al Meera in all of its operations have contributed to increasing the company's sales by 13.7 per cent in the first quarter of 2016 when compared with the same period in 2015. This is a clear indicator of the success of our expansion plan which aims to satisfy and please our customers’ demands.”

“For Al Meera the financial results constitute more than just profits, as it clearly shows further evidence of the company’s’ reliability towards its consumers that comes in  line with our commitment and promises to our shareholders, customers and stakeholders as we aim to transform Al Meera from a store to your preferred shopping destination where consumers can benefit from a ‘perfect shopping experience’, placing their satisfaction as our priority which proves our loyalty toward the community.”

Al Meera will be launching exceptional offers for the holy month of Ramadan this year, which is based on selling 1,437 consumer goods at cost price, in honour of the Islamic Year 1437. The offer’s coming into effect will be kicked off within days and will continue until the end of the holy month at all of Al Meera branches in the country, a statement said.

Al Meera is currently working on following up on its plan to establish 14 new branches in various regions of the country, as it has already started the works at five shopping centres last year, which are expected to be delivered within the next three months.

The company is also negotiating with the “Doha Institute For Graduate Studies”, to operate a supermarket which is 150 sq m to serve the Institute’s students. – TradeArabia News Service




Tags: Qatar | retail | Al meera |

More Retail & Wholesale Stories

calendarCalendar of Events

Ads