Mubasher: Al Meera Consumer Goods Company reported a 7.9% year-on-year decline in its profits for the fourth quarter of 2017, compared to the same period a year earlier.

The Qatar-based firm's profits reached QAR 57.35 million ($15.75 million) in  Q4-17, compared to QAR 62.31 million ($17.11 million) in the corresponding period the year before, according to the company’s statement to the Qatar Stock Exchange on Wednesday.

For the full year 2017, the company’s profits decreased 2.57% to QAR 194.05 million from QAR 199.16 million in 2016.

Earnings per share amounted to QAR 9.70 for the year ended on 31 December 2017 versus QAR 9.96 for the same period of the previous year, the statement showed.

Al Meera’s board recommended distributing 85% of the share nominal value in cash dividends, equalling QAR 8.5 per share.