Al Meera is set to expand its footprint, both within the country and in the region. Al Meera Consumer Goods Company’s Annual Ordinary General Assembly Meeting held yesterday discussed some key priorities for Al Meera’s future development in preparing it for the next stage of growth.
The group is looking to expand to economically viable locations in new areas within the community, and in the region. Al Meera is gearing up to play a bigger role in the supermarket arena in Oman with the aim of doubling its retail network, Al Meera said in a statement. Addressing the Annual Ordinary General Assembly, Abdulla Abdulaziz Turki Al Subaie, Chairman of the Board of Directors said: “We have become more than a local neighborhood store and not only committed to promoting quality food at affordable prices, but also encouraging sustainable practices in our c o n s u m e r s ’ b e h a v i o r . Moreover, we are now looking to extend our legacy to the wider region.”
Abdulla Abdulaziz Turki Al Subaie (third right), Chairman, Al Meera Consumer Goods Company, and other Board members during the Ordinary General Assembly Meeting, yesterday
Al Meera is constantly adapting to the needs of the continuously evolving demographic of Qatar, with goals to expand on the Al Meera product range as well as introduce new product lines.
A recent announcement was made to introduce a range of items from international brands at select Al Meera branches around Qatar to serve its consumers better. Plans are also afoot to embrace the changing trends in customer shopping by potential adoption of services such as e-commerce.
The Chairman added: “As a leading national retailer, our role in the community is incredibly integrated, at the center of economic, social, health, and environmental matters….. We at Al Meera are committed to continuing our efforts in serving the interests of our shareholders and consumers and appreciate the collective efforts of our Board of Directors, management, and employees in contributing to the overall growth of the company.”
The Assembly approved the Board of Directors’ proposal on the distribution of cash dividends of QR0.85 per share.
Al Meera recorded consolidated sales of QR3bn. Gross profit increased 4.5 percent to QR518.6m. Group gross shops rental income amounted to QR74.8m. The net profit attributable to shareholders increased to QR186.6m, compared to QR182.4m achieved in 2018. Earnings per share improved to QR0.93, compared to QR0.91 reported in 2018.
