Reflecting the success of its growth strategy and sustained profitability over its decade-long history, Al Meera Consumer Goods Company (QSC) has been named as one of five Qatari firms in Marmore Mena Intelligence’s ‘30 most valuable non-banking companies in the GCC’ list.

The selection was based on financial performance and quantitative methods, taking into account three key parameters, namely the company’s Return on Equity (ROE), Debt-to-Equity (D/E) ratio, and its average profit after tax (PAT) growth percentage for the past three financial years, with weightage of 40%, 40% and 20% respectively.

Out of the 30 GCC companies that made it to the list, Al Meera recorded the second highest annualized 5-year returns (5 year CAGR) at 43%, following Qatar’s Medicare Group, which registered a 5-year CAGR of 49%.

According to the report, Al Meera has expanded its operations in the previous years and witnessed an increase in sales in 2015, while maintaining a low D/E ratio of 0.06. “The average PAT growth percentage was 24% (2013-2015) and the ROE was 11.7% in 2015. The company has planned for major expansions in the coming years and has attracted investors from Qatar and GCC”, the report stated.

In addition to Al Meera and Medicare Group, the other Qatari companies included in Marmore Mena Intelligence’s ‘Top 30’ list are Qatar Fuel (Woqod), Widam Food, and Mazaya Qatar.

Commenting on the company’s achievement, Dr. Mohammed Nasser Al Qahtani, Deputy Chief Executive Officer of Al Meera, said:

“Being recognized as one of five Qatari companies that are considered the most valuable in the GCC is not only a testament to Al Meera’s sound policies and carefully planned and executed expansion strategy throughout the years, but also reaffirms our position as one of the main pillars of the national economy and an integral part of Qatar’s development program.”

He added: “Driven by the excellence of our people, our innovative approach and a solid development strategy that paces with Qatar’s urbanization plan, Al Meera is committed to fulfilling its promises to shareholders, customers and stakeholders, as it continues marching towards becoming the leading retail company for consumer goods in Qatar and beyond.”

Al Meera’s outstanding achievement comes on the heels of the company’s disclosure of its semi-annual financial statements for H1 2016, in which it announced a 10.6% increase in sales from QR 1.22 billion to QR 1.35 billion, compared to the same period in 2015, the total equity stood at QR 1.33 billion on a capital base of QR 200 million, and earnings per share for the period was QR 5.12, a 1.5% increase from H1 2015. In addition to declaring that Al Meera is now in the process of finishing the final stages for the opening of 5 new stores out of the 14 announced last year. The shopping centers announced are due to be open in the near future in Bu Sidra, North Sailiya (Al Miarad), Al Wakra (West), Leaibab 2, and Um Salal Ali.