Doha – Mubasher: Al Meera Consumer Goods' sales reached QAR 644.1 million in the first quarter of 2017, compared to QAR 641 million in Q1-16, according to financial statements released on Sunday.

Gross margin increased to QAR 105.2 million in 2017 from QAR 99.7 million in 2016, with a growth of 5.5%, according to a statement.

“Al Meera continues to achieve growth in sales and gross profit reflecting our board of directors’ clear vision, sound policies, and strategic decisions,” Al Meera’s chairman Sheikh Thani bin Thamer Al-Thani said.

Earnings per share (EPS) reached QAR 2.03 in Q1-17 from QAR 2.47 in the year-ago period.

The company highlighted that the first quarter of this year marked the launch of Umm Salal Ali shopping centre.

Al Meera has seven branches under construction, of which five are expected to open during 2017, the statement added.

The chairman of the company noted that the achieved growth over last year shows that Al Meera's market strategy is in line with the current market conditions, and the company’s expenses are kept in line with its expansion plan.