Al Meera records increase in sales and net profit in First Quarter 2015
Al Meera Consumer Goods Company (Q.S.C.) announced its financial results for the first quarter of 2015, ended 31st March 2015, with a record net profit of QR 43.1 million as compared to QR 39.2 million for the same period in 2014, marking an increase of 10%.
Similarly, sales in first quarter of 2015 grew by 11%, from QR 508.4 million to QR 564.1 million, compared to the same period in 2014.
And The Earnings per Share (EPS) amounted to QR 2.15 as of March 31, 2015 versus QR 1.96 of the same period in 2014.
In the first quarter of 2015, the company has already opened its new branches in Muaither and Azizia, and did the soft opening for the Muraikh and Gulf Mall. In order to achieve a wider spread that satisfies its customers, Al Meera is ready to inaugurate six other branches this year in Jeryan Nejaima, Thakhira, Al Wakra, Al Thumama, Al Wajba and Rawdat Ekdeem. The aforementioned stores will be opening their doors weeks apart, one after the other.
In addition, Al Meera is currently constructing 14 new shopping centres located in Sailiya North, Bu Sidra, Al Wakra2, Umm Salal, Leabaib 1, Leabaib 2, Rawdat Aba El-Herran, Azghawa, Al Khor, Um Qarn, Rawdat Al Hamama, Jeryan Junaihat, Al Sailiya, and Ain Khaled.
Commenting on this growth, Dr. Mohammed Nasser Al Qahtani, Deputy CEO of Al Meera, said:
“Our increase in sales and net profit is a result of careful planning and an ambitious expansion plan that has been underway since 2014. In addition to supermarkets, Al Meera’s modern branches will include a variety of restaurants and much more. Adhering to our motto ‘Your Favourite Neighbourhood Retailer’, this growth is in line with the Qatar National Vision 2030 to develop areas within the state and provide them with integrated services.”
These new branches come as part of Al Meera’s expansion plan to serve all areas in Qatar, answering the communities’ needs and providing competitive prices in all its branches. All new malls are being built according to the highest international standards, with contemporary interior design and modern lighting.
