Al Meera Consumer Goods Company Q.P.S.C. (MERS) Earnings Call Transcript
October 25, 2026
Earnings Call Speaker Segments
Hello, and welcome to Al Meera. Please note that this call is being recorded. You will have the opportunity to ask questions to our speakers later on during the Q&A session. [Operator Instructions] I'd like to hand the call over now to the moderator, Phibion. Please go ahead.
Thank you, Gail. Good morning to you all, and let's welcome you all to the Al Meera Consumer Goods Company, 3Q and 9M Earnings Conference Call. On the quarter from the Al Meera management team, we have Abdelrahman Aburub, the Finance Director; [ Fahad Bahzad ], the Chief Financial Officer; Quennie Trajano, the Financial Analysis and Planning Manager; and [ Suddenly Sanchez Babaran ], the Accounting Manager. As usual, they will first give us an overview what's transpired during 3Q? And do you have a Q&A session immediately afterwards. Let me turn over the call to Suddenly Sanchez to take over. Over to you, ma'am. Can you go ahead.
Thank you, Phibion. Hello, everyone. Welcome to Al Meera's Conference Call for the Third Quarter and 9 Month period of 2026. We will be starting off with an overview of Al Meera's results for the period ended 30th September 2026. Then we will proceed to the question and answers. The following are the financial highlights of the group results for the 9-month period ended 30th September 2026. Al Meera recorded consolidated sales of QAR 2.29 billion for the 9-month period ended 30th September 2026, an increase of 4.9% compared to the same period in 2025. Gross profit amounted to QAR 411.7 million, an increase of 5.2% compared to the same period in 2025. Gross profit margin was up 18%. Rental income is at QAR 64.6 million compared to QAR 58.8 million for the same period in 2025. Other income is at QAR 54.9 million compared to QAR 20.3 million for the same period in 2025. Operating expenditures increased by 8.3% in to QAR 326.1 million compared to QAR 301.2 million at as for the same period in 2025. Overall, Al Meera reported a net profit of QAR 81.6 million, QAR 82.1 million attributable to shareholders and an earnings per share of QAR 0.4 for the 9 months year ended 30th September 2026. To conclude, Al Meera delivered a resulting performance for the 9-month period ended 30th September 2026. Sales and net profit increased compared to the same period in 2025. This performance was supported by the continued growth of our e-commerce channel, contribution of our newly renovated stores and higher investment income. Looking ahead, the group remains focused on strengthening its core retail operations, enhancing store performance, expanding its digital channels and maintaining disciplined cost and inventory management. That concludes overview of our too. Thank you for your attention, and we will now open the line for questions.
[Operator Instructions] Your first question comes from [ Adnan ] with [ Orion ] Investment.
Congratulations on the good set of results that they are very impressive results. The questions I have is regarding like what were the [ main ] reasons for the closure of two stores. The second question is around like what percentage of sales are coming from the aggregator?
Sure. Thank you, [indiscernible]. First question is regarding the closure of the stores. We are doing a review of our portfolio to these were stores that are not directly related to our focused operations. One was an old store on the [ Docas ] Fish Market and another one was Cash and Carry Store in the [indiscernible] [ Locas ] Central Market. So these two were closed. The second one, for your question is regarding the penetration e-commerce as a whole, accounts to approximately 10% of our sales, 9.8% to be exact. And a portion of that is mainly through the aggregation of our online e-commerce platform just recently launched this year and it's slowly capturing the share from the market.
Your next question comes from the line of Ad [indiscernible] [ Nayer ] with [ Avantico ] management.
I just had a quick question regarding the source of dividend income this quarter, which is around QAR 32.5 million for Q3. And I wanted to understand what the source of that is and what kind of investment it relates to and how we can expect this going forward?
Sure. So this was a dividend from one of our investments funds that we have. But -- it's mainly driven by higher dividend income. And this is something that's related to the performance of the fund itself. So we don't have any future-looking statements to make regarding that.
So this is an investment fund that media equities? Or is there something that you could provide on that?
So this fund has authority to invest in equities, so and also cash equivalents. It's not managed by Al Meera team, it's managed by an external fund manager, and they posted some dividends for us in this quarter.
Got it. And do we have any idea of the total return calculation for this kind of -- for this investment?
I don't have that right now, but we will check.
Sure. And just one other question from my end. I wanted to understand what led to the increase in the other direct costs this quarter, which is around QAR 56 million, if I'm not wrong. I just wanted to understand that what drove the increase in that cost.
So excuse me want let me open that right now.
Sure.
We're talking about the operating expenditures one? The e-commerce one?
Yes. the other direct costs.
Other direct costs. Okay, yes, that affects our...
Gross margin.
Okay. So you're asking about the direct cost that at our gross margin, not nonrating expenses. Yes, we are conducting monthly -- so first of all, our gross profit margin increased compared to the same period in 2025. Now it's about 18%. In aggregate terms, so the margin has increased. There has been -- we are taking over a lot of the food vegetable operations from our previous stores in our new direction going forward. We are running the fruit and vegetable operation, it's not done by consignment sales. So we are expecting a little bit of additional shrinkage and visage because we are operating these food and vegetable operations. What is on the bright side, this is giving us a higher gross margin, it is going to stabilize in the future.
[Operator Instructions] Okay. Since there are no further questions, I would like to thank you all for joining this call. That concludes our call for today. Thank you so much, all. Have a nice day ahead.
Thank you.
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