Al Meera Consumer Goods Q P S C : Q3 2022 IR Presentation
October 30, 2022 at 05:59 am EDT
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Consolidated Financial Results for the nine-month period ended 30 September 2022
Investor Relation Presentation
31 October 2022
KEY FINANCIAL HIGHLIGHTS FOR 9M-2022
Al Meera recorded consolidated sales of QAR 2.1 billion for the nine month period ended 30 September 2022, a decline of 3.4%, compared to the same period in 2021. The sales decline is primarily due to competition and road constructions around the stores.
Gross profit amounted to QAR 384.1 million, a decrease of 3.5% compared to the same period in 2021. Gross profit margin was at 18.6%.
Rental income grew by 2.8% to QAR 61.5 million compared to QAR 59.8 million in the same period in 2021.
Other income increased to QAR 19.1 million, due to higher dividends from equity investments.
Operating expenditures decreased by 0.9% to QAR 237.9 million compared to QAR 240.1 million last year.
Al Meera reported a net profit of QAR 120.1 million and earnings per share is QAR 0.61 for the nine-month period ended 30 September 2022.
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KEY FINANCIAL HIGHLIGHTS FOR 9M-2022 (Cont'd)
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OPERATIONS UPDATE FOR 9M-2022
During 2022, Al Meera opened 1 supermarket outside the city of Doha, 1 convenience outlet in an office complex, and 3 convenience outlets in the Metro Stations.
The construction and fit out works for 2 supermarkets outside the city of Doha and 2 supermarkets in Doha, are progressing as planned and are expected to be operational in Q4 2022.
The Company has taken several initiatives to support the FIFA World Cup event to be hosted in Qatar during November and December 2022.
In Oman, the construction of Al Meera mall in Al Amirat is nearing completion and is planned to be operational in Q4 2022.
The online sales channels have been expanded with collaboration with several online platforms to extend our reach to customers.
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DISCLAIMER
Information contained in this presentation is subject to change without further notice. Its accuracy is not guaranteed, and it may not contain all material information concerning the company. We and our advisors do not make any representation regarding, nor assume any liability for, the accuracy or completeness of, or any errors or omissions in, any information contained herein.
In addition, the information contains projections and forward looking statements that reflect the company's current views only, with respect to future events and financial performance. These views are based upon current assumptions that are subject to various risks, and may change over time. No assurance can be given that future events will occur, that projections will be achieved, or that the company assumptions are correct. Actual results may differ materially from those projected.
This presentation is strictly for information only, and is not to be distributed without the explicit consent of Al Meera Consumer Goods Company Q.P.S.C. management under any circumstances.
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Al Meera Consumer Goods Company QSC published this content on 30 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 October 2022 09:58:02 UTC.
Al Meera Consumer Goods Co QSC is a Qatar-based company engaged in wholesale and retail trading of various types of consumer goods commodities. The Company operates in following segments: The retail segment, which comprises the buying and selling of consumer goods. The investment segment, which comprises equity and funds held as financial assets at fair value through other comprehensive income and fixed deposits. The leasing segment, which comprise mainly of renting shops in various malls owned by the Group. Al Meera operates through approximately 60 hypermarkets, supermarkets and convenience stores. The Companyâs subsidiary companies include Al Meera Holding Company L.L.C, Al Meera Supermarkets Company W.L.L., Qatar Markets Company L.L.C, and Al Meera Development Company L.L.C, among others.