Al Meera recording QR 112.8 mn Net Profit for H1 2014 moves its expansion forward

Al Meera Consumer Goods Company (QSC) recently disclosed its semi-annual financial statements for the period ending June 30, 2014, recording major growth in its net profit and earnings per share.

Dr. Mohamed Nasser Al Qahtani, Al Meera Deputy Chief Executive Officer said: "Al Meera's profits for the first half of this year has grown intensely as net profit grew by 95.8 percent, from QR 57.6 million to QR 112.8 million, compared to the same period in 2013." He added: "The Company’s Earning per Share (EPS) amounted to QR 5.64 as of June 30, 2014 versus QR 3.16 for the corresponding period in 2013."

The latest Al Meera's financial results come as the company maintains its expansion plans to serve the diverse communities in the state of Qatar and meet the needs of all citizens and residents wherever they are, with competitive prices that take into account all segments of society. Al Meera also aims through these plans to achieve greater profitability for its shareholders.

In this regard, Dr. Al Qahtani noted: "Al Meera is working in its full potential to get the construction phase of the new malls accomplished by the end of the 4th quarter of 2014, in order to achieve a wider spread that satisfies its customers. 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: "Legtaifiya branch opened recently is a new proof of Al Meera’s constant intention to enhance services, diversify consuming goods for customers, and to offer a unique shopping experience in a comfortable and newly-equipped spacious place, operating 24/7 in order to fulfill our customers’ needs any time they want."

The selling area of Al Meera supermarket at Legtaifiya reaches 850 square meters, while the total area of the branch is around 3125 square meters.

Al Meera's new branches are constructed in a modern and contemporary design which includes a supermarket, along with shops, restaurants and other stores. The malls are also constructed in accordance with international standards and equipped with the latest interior designs and lighting systems that ensure a distinctive shopping experience.