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Monday, March 8, 2021

Qatar’s Al Meera sets sales record but profits plunge

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For the first time in at least six years, local consumer goods firm Al Meera has failed to increase its net income. The company’s net income fell 28 percent to QR162.34 million.

The firm said it sold a record QR2.45 billion in retail products last year, but that its bottom line was hurt by a QR31.46 million loss on its investments. Al Meera is 26 percent owned by the Qatar government and plans to open five new stores in 2016.

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