Al Meera Consumer Goods Company’s shareholders have approved the distribution of QR90mn cash dividends at the rate of QR0.45 per share, in addition to 3% bonus shares during the Annual Ordinary General Assembly held recently.
During the meeting, Al Meera chairman HE Dr Abdullah bin Abdulaziz bin Turki al-Subaie announced that net profit in 2022 increased to QR196.6mn and earnings per share remained stable at QR0.98.
During the same year, Al Meera recorded consolidated sales of QR2.8bn with gross profit of QR548.8mn, while the company’s gross rental income amounted to QR83.2mn, with an increase of QR1.9mn over 2021.
HE Dr al-Subaie said 2022 was a special year for Al Meera and Qatar as the country prepared for and hosted the FIFA World Cup. He said Al Meera played a vital role in contributing to the successful hosting of the World Cup by making shopping services more easily accessible and convenient to Qatar residents and to football fans who visited the country.
To ensure that customers and Qatar’s guests during the World Cup have easy access to basic needs, Al Meera opened 10 temporary stores at strategic locations across the country, in addition to its over 60 branches, he said.
Dr al-Subaie said Al Meera also intensified its expansion plans in 2022 by opening a new branch in Al Karaana area; a first self-checkout mini-market at the QatarEnergy Tower in Al Dafna, West Bay; two branches in Lusail City; two additional ‘MAAR by Al Meera’ convenience stores with a total of six branches across various metro stations; relaunching of the floating market near Safliya island; as well as the launch of Al Meera on more delivery applications.
“We also successfully introduced the first fully-autonomous and checkout-free store, the Al Meera Smart, a first-of-its-kind in the Qatari retail market, which is now fully operational and open to the public to experience seamless and convenient shopping services.
“All these carefully-planned and diligently-implemented operations contributed to Al Meera’s performance and market share in the Qatari retail sector and in helping to maintain its position as the leading and favourite neighbourhood retailer in the country. In line with this, we set our focus this year to continue our expansion plans and sustainability strategy in response to the ever-changing market needs and customer demands,” Dr al-Subaie stressed.
He also congratulated His Highness the Amir Sheikh Tamim bin Hamad al-Thani, His Highness the Father Amir Sheikh Hamad bin Khalifa al-Thani, His Highness the Deputy Amir Sheikh Abdullah bin Hamad al-Thani, HE the Prime Minister and Minister of Foreign Affairs Sheikh Mohamed bin Abdulrahman bin Jassim al-Thani, and the government and people of Qatar on the successful and outstanding hosting of the World Cup, which was described as “the best in the history of the tournament.”
The meeting also discussed strategic plans to expand Al Meera’s branches to other locations and areas where the community members need a neighbourhood retail service, while at the same time increasing its presence on various e-commerce platforms and Al Meera Online.