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Al Meera 85.3% net profit increase for 2013

February 19, 2014

Doha - The Board of Directors of Al Meera Consumer Goods Company (QSC) held its first meeting of the financial year 2014 on Monday 17th of February 2014 which was chaired by His Excellency Abdulla bin Khalid Al Qahtani. The Board took a number of decisions including endorsement of the consolidated financial statements for the financial year ending 31 December 2013, and recommended presenting these accounts to the General Assembly meeting to be held on 26 March 2014. The net profit for the year of the Company is QR 196 m, including a non-recurring profit of QR 71 m from the compensation for Al Khor, which is 85.3% higher than the previous year. The Board has recommended distributing a cash dividend of QR 8 per share, which is equivalent to 80% of the nominal share value. Notably, the Company's revenue reached QR 1.95 bln, which is 30.0% higher than 2012. Furthermore, the company has paid off all its debt which stood at QR 408. Source: Press release

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Source: Arab Finance (Egypt)

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