Doha – Mubasher: Al Meera Consumer Goods Company reported a decline of 18% in its profits for the first quarter of 2017, compared to the same period in 2016.

Al Meera’s profits reached QAR 40.52 million ($11.12 million) in Q1-17, compared to QAR 49.4 million ($13.55 million) in Q1-16, according to a filing to the Qatar Stock Exchange (QSE).

Earnings per share (EPS) reached QAR 2.03 in Q1-17, compared to QAR 2.47 in the corresponding period in the year earlier.

The company’s profits rose 22.9% to QAR 199.2 million in 2016, compared to QAR 162.1 million in 2015.