The company reported 80% growth in its net profit for the first three months of 2012 to QR23.09m, thanks to higher sales earnings. Sales jumped 59% to QR351.45m while the cost of sales rose 54% to QR 297.16m, resulting in a 91% jump in gross profit to QR54.29m.
Income from shop rentals was up QR7.93m, a 15% rise, and other income increased by 17% to QR9.23m, translating to a 66% increase in operating income to QR71.46m. General and administrative expenses increased by 48% to QR40.31m and the company sustained a finance cost of QR3.08m.
Total equity stood at QR226.38m on a capital base of QR100m and earnings-per-share was QR2.31 at the end of March 31, 2012.
"Our increasingly aggressive expansion strategy has translated into excellent financial earnings for the company and its shareholders," commented Dr. Mohammad Nasser Al Qahtani, Deputy CEO of Al Meera Consumer Goods Company. "Of course, this will only drive the company to carry on with its plans to which everybody - shareholders, customers, and all general stakeholders - will benefit from."
Browse
related articles
Al Meera Consumer Goods Company's first quarter 2012 gross profits surge over 90%
- Qatar: Saturday, April 28 - 2012 at 13:49
- PRESS RELEASE
Related content
Al Meera' Consumer Goods Company's (Q.S.C), announced further double digit profits in their first half year results for 2012, in continuation of the extraordinary growth that the firm has been recording ever since their expansion strategy kicked into full gear late last year.
Article Options
Log in to request more information from Al Meera
Posted by Rima Ali Al MashniSaturday, April 28 - 2012 at 13:49 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / 4C.
Notes and Media Contacts »
Disclaimer »
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / 4C. AME Info FZ LLC / 4C is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
