AL MEERA CONSUMER 6'OODS COMPANY Q.P.S.C.
Interim condensed consolidated financial statements For the three-month period ended 31 March 2025
AL MEERA CONSUMER GOODS COMPANY Q.P.S.C.
INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the three-month period ended 31 March 2025
CONTENTS
Interim condensed consolidated statement of profit or loss
Interim condensed consolidated statement ofcomprehensive income
Interim condensed consolidated statement of financial position
Interim condensed consolidated statement ofchanges in equity Interim condensed consolidated statement ofcash fiows
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AL MEERA CONSUMER GOODS COMPANY Q.P.S.C.
INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS
For the three-month period ended 31 March 2025
(All amounts are expressed in Qatari Riyals unless otherwise stated)
Three-month period ended 31 March
2025 (Unaudited) | 2024 (Unaudited) | |
Sales | 789,367,254 | 789,788,426 |
Cost of sales | (632,716,374) | (647,926,106) |
Gross profit | 156,650,880 | 141,862,320 |
Rental income | 19,011,717 | 20,280,187 |
Other income | 9,193,203 | 23,782,207 |
General and administrative expenses | (94,806,272) | (102,747,020) |
Depreciation and amortisation expenses | (29,078,016) | (26,748,290) |
Finance costs | (7,688,024) | (5,641,876) |
Share of loss of an associate | (28,042) | (18,697) |
Profit before income tax | 53,255,446 | 50,768,831 |
Income tax expense | (63,086) | (70,924) |
Profit for the period | 53,192,360 | 50,697,907 |
Profit attributable to: Shareholders of the parent | 53,412,326 | 50,785,058 |
Non-controlling interests | (219,966) | (87,151) |
53,192,360 | 50,697,907 | |
Earnings per share Basic and diluted earnings per share attributable to shareholders of the parent | 0.26 | 0.25 |
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AL MEERA CONSUMER GOODS COMPANY Q.P.S.C.
INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
For the three-month period ended 31 March 2025
(All amounts are expressed in Qatari Riyals unless otherwise stated)
Three-month period ended 31 March
2025 2024(Unaudited) (Unaudited)
Profit for the period
Other comprehensive iztcome
Items that will not be reclassified subsequently to consolidated statement of profit or loss
Net changes in fair value of financial assets at fair value through other comprehensive income
53,192,360
(16,626,992)50,697,907
(20,385,385)
Total comprehensive income for the period | 36,565,368 | 30,312,522 |
Total comprehensive income for the period attributable to: Shareholders of the parent | 36,785,334 | 30,399,673 |
Non-controlling interests | (219,966) | (87,151) |
36,565,368 | 30,312,522 |
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AL MEERA CONSUMER GOODS COMPANY Q.P.S.C.
INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 31 March 2025
(All amounts are expressed in Qatari Riyals unless otherwise stated)
3lMarch | 31 December | |
2025 | 2024 | |
(Unaudited) | (Audited) | |
ASSETS | ||
Non-current assets | ||
Property and equipment | 1,444,445,687 | 1,403,135,910 |
Right-of-use assets | 243,510,894 | 229,193,023 |
Goodwill | 344,097,998 | 344,097,998 |
Intangible assets | 181 | 181 |
Financial assets at fair value through other comprehensive | ||
income | 380,620,327 | 401,453,945 |
Deferred tax assets | 842,201 | 842,201 |
Other non-current assets | 15,398,804 | 15.398.804 |
Total non-current assets | 2,428,916,092 | 2,394,122,062 |
Current assets | ||
Inventories | 375,209,677 | 363,930,632 |
Trade and other receivables | 85,744,042 | 87,316,671 |
Due from a related party | 19,851,169 | 19,830,310 |
Restricted bank balances | 73,341,921 | 74,349,987 |
Cash and bank balances | 215,023,213 | 133,663,424 |
Total current assets | 769,170,022 | 679,091,024 |
TOTAL ASSETS | 3,198,086,114 | 3,073,213,086 |
EQUITY AND LIABILITIES | ||
Equity | ||
Share capital | 206,000,000 | 206,000,000 |
Legal reserve | 901,289,603 | 901,289,603 |
Optional reserve | 21,750,835 | 21,750,835 |
Fair value reserve | (1,945,412) | 15,075,693 |
Retained earnings | 542,769,402 | 490,292,772 |
Equity attributable to shareholders of the parent | 1,669,864,428 | 1,634,408,903 |
Non-controlling interests | 37,338.392 | 37,558,358 |
Total equity | 1,707,202,820 | 1,671,967,261 |
Non-current liabilities | ||
Loans and borrowings | 429,127,526 | 408,762,764 |
Lease liabilities | 221,124,076 | 210,725,491 |
Employees' end of service benefits | 47,442,379 | 46,594,747 |
Retentions payable | 11,537,043 | 13,222,844 |
Deferred tax liability | 264,632 | 264.632 |
Total non-current liabilities | 709.495,656 | 679.570.478 |
Current liabilities | ||
Trade and other payables | 671,629,744 | 582,630,110 |
Loans and borrowings | 63,230,990 | 96,014,848 |
Lease liabilities | 46,526,904 | 43,030,389 |
Total current liabilities | 781.387,638 | 721.675,347 |
Total liabilities | 1,490,883,294 | 1.401,245,825 |
TOTAL EQUITY AND LIABILITIES | 3,198,086,114 | 3,073,213,086 |
These interim condensed consolidated financial statements were approved by the Board of Directors on 28 April 2025 and authorized for issue on their behalf by:
MUSr Mubar Ab M Al ula fi
AL MEERA CONSUMER GOODS COMPANY Q.P.S.C.
INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
For the three-month period ended 31 March 2025
(All amounts are expressed in Qatari Riyals unless otherwise stated)
Attributable to the shareholders of the parent
Share Legal Optional Fair value Retained Non-controlling
capital reserve reserve reserve earnings Total interests Total e0uitv
Balance at I January 2024 (Audited) | 206.000.000 | 901.289.603 | 21.750.835 | 24.631.894 | 488,179.840 | 1.641,852.172 | 38.201.073 | 1,680.053,245 | ||
Profit / (loss) for the period | 50,785,058 | 50,785,058 | (87,151) | 50,697,907 | ||||||
Other comprehensive losses for the period | - - | f20.385.3851 | (20.385.385) | - | (20.385.385) | |||||
Total comprehensive income for the period | - | (20,385.3851 | 50.785.058 | 30.399.673 | (87.1511 | 30.312.522 | ||||
Transfer of gain on disposal of equity investments at FVOCI to retained earnings | (787,186) | 787,186 | ||||||||
Appropriation for contribution to social and sports fund | - | (1,267,448) | (l.267.448a | - | (1,267,448) | |||||
Balance at 31 March 2024 (Unaudited) | 206,000,000 | 901,289,603 | 1 750 835 | 3.459.323 | 538,484,636 | 1.670,984,397 | 38,113,922 | l,709,098,319 | ||
Balance at 1 January 2025 (Audited) | 206.000.000 | 901.289.603 | 21,750,835 | 15.075.693 | 490,292,772 | 1.634,408,903 | 37.558.358 | 1,671.967.261 | ||
Profit / (loss) for the period | - | 53,412,326 | 53,412,326 | (219,966) | 53,192,360 | |||||
Other comprehensive losses for the period | - | - | - | (16,626,992) | - | f16,626,992) | - | f16,626.992) | ||
Total comprehensive income for the period | - | - | - | f16.626.992J | 53.412,326 | 36,785,334 | (219,966) | 36.565.368 | ||
Transfer of gain on disposal of equity investments at FVOCI to retained earnings | (394,113) | 394,113 | ||||||||
Appropriation for contribution to social and sports fund | - | (1,329,809) | 11.329.809J | - | (,1,329,809) | |||||
Balance at 31 March 2025 (Unaudited) | 206,000,000 | 901,289,603 21.750.835 f1,945.412J | 542.769,402 | 1,669,864,428 | 37,338,392 | 1.707.202.820 | ||||
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AL MEERA CONSUMER GOODS COMPANY Q.P.S.C.INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
For the three-month period ended 31 March 2025
(All amounts are expressed in Qatari Riyals unless otherwise stated)
Three-month period ended 31 March
2025 | 2024 Unaudited | ||
Cash flow from operating activities: Profit for the period before income tax | 53,255,446 | 50,768,831 | |
Adjustments for: Depreciation and amortization expenses | 29,078,016 | 26,748,290 | |
Interest income | (1,023,394) | (1,590,169) | |
Provision for expected credit loss | 1,904,593 | 13,523,187 | |
Provision for employee' end of service benefits | 1,943,737 | 4,980,918 | |
Provision for slow moving inventories - net | 3,175,962 | 11,815,902 | |
Share of loss on an associate | 28,042 | 18,697 | |
Loss/(gain) on disposal of property and equipment | 36,884 | (2,408) | |
Dividend income | (8,467,588) | (21,550,025) | |
Finance costs | 7,688,037 | 5,641,822 | |
Operating profit before changes in working capital | 87,619,735 | 90,355,045 | |
Working capital changes: Inventories | (14,455,007) | 5,065,058 | |
Trade and other receivables | (242,283) | (17,667,190) | |
Due from a related party | (20,859) | (16,389) | |
Trade and otherpayables | 87,514,334 | 25,360.980 | |
Cash flows generated from operating activities | 160,415,920 | 103,097,504 | |
Employees' end of service benefits paid | (1,096,105) | (1,579,582) | |
Net cash generated from operating activities | 159,319,815 | 101,517,922 | |
Cash flow from investing activities Acquisition of financial assets at fair value through other comprehensive income | (43,737,595) | (49,848,116) | |
Proceeds from sale of financial assets at fair value through other | |||
comprehensive income | 47,944,220 | 42,059,206 | |
Acquisition of property and equipment | (58,192,892) | (33,338,734) | |
Proceeds from disposal of property and equipment | 70,699 | 34,499 | |
Net movement in deposits maturing after 90 days | 9,500,000 | ||
Net movement in restricted bank accounts | 1,008,066 | 841,206 | |
Dividends received | 8,467,588 | 21,550,025 | |
Interest received | 1,424,449 | 1,972.676 | |
Net cash flows used in investing activities | (33,5t5,465) | (16,729,238) | |
Cash flow from financing activities Dividends paid | (1,008,066) | (841,206) | |
Finance costs paid | (7,458,563) | (5,644,200) | |
Repayment of principal portion of lease liabilities | (10,698,566) | (8,868,517) | |
Repayment of interest portion of lease liabilities | (3,303,386) | (2,536,693) | |
Repayments of loans and borrowings | 12,475,980) | (11,304,973) | |
Net cash flows used in financing activities | (34,944,561) | (29,195,589) | |
Net increase in cash and cash equivalents | 90,859,789 | 55,593,095 | |
Cash and cash equivalents at 1 January | 124,163,424 | 158,828,124 | |
Cash and cash equivalents at 31 March | 215,023,213 | 214,421.219 | |
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