Al Meera Consumer Goods Company is planning to open “more than four” new Al Meera branches, as well as to expand digitally by further developing the newly-launched e-commerce platform – 'Al Meera Online', by enhancing its capabilities to serve more localities in the country.
This was announced during Al Meera’s annual ordinary general assembly meeting for 2020 held virtually Sunday in the presence of Al Meera’s chairman, Abdulla Abdulaziz Turki al-Subaie, as well as members of the board, shareholders, and investors.
The meeting approved all items in the agenda, including the board’s recommendation to distribute cash dividends amounting to 90% of the nominal value of the shares, equivalent to QR0.90 per share.
In 2020, Al Meera recorded consolidated sales of QR3.4bn. Gross profit increased 14.2% over 2019 to QR592.1mn. Group gross shops rental income amounted to QR65.1mn. Net profit in 2020 increased to QR209.0mn, a growth of QR22.5mn or 12.1% compared to 2019. Earnings per share improved to QR1.05 compared to QR0.93 reported in 2019.
At the beginning of the meeting, al-Subaie thanked His Highness the Amir Sheikh Tamim bin Hamad al-Thani for his remarkable leadership and vision of the growth, development, and security of Qatar.
He said, “Al Meera’s strong performance in the market last year is a culmination of its leading role in the FMCG sector as the national retailer of Qatar. Amongst managing consumer confidence in the face of an ongoing pandemic, economic activity was spurred by maintaining fully-stocked branches in neighbourhoods across the county with uninterrupted expansion plans, and continuous improvement across operations.
“Al Meera’s agility in responding to market needs and customer demands, a drive to create safer and efficient retail stores and a unique business model continue to bring prominence as the country’s favourite neighbourhood retailer. Moreover, we remain committed to our role in advancing Qatar’s social, economic, health and environmental well-being, emboldened by our efforts to serve the interests of our shareholders and stakeholders. Throughout our endeavours, we appreciate the collective efforts of our board of directors, management, and employees in contributing to the overall growth of the company.”
Al Meera is constantly upgrading its services to meet the needs of its continuously evolving customers. In line with this, new products will be introduced in the product mix, especially in the increasingly popular organic section.
Extensive plans remain underway for renovating and rebranding at select branches to enhance the shopping experience. Additionally, customers can also look forward to improvements on Meera Rewards with mobile application updates, and promotions, raffles, upgrades, offers, and local partnerships.
This was announced during Al Meera’s annual ordinary general assembly meeting for 2020 held virtually Sunday in the presence of Al Meera’s chairman, Abdulla Abdulaziz Turki al-Subaie, as well as members of the board, shareholders, and investors.
The meeting approved all items in the agenda, including the board’s recommendation to distribute cash dividends amounting to 90% of the nominal value of the shares, equivalent to QR0.90 per share.
In 2020, Al Meera recorded consolidated sales of QR3.4bn. Gross profit increased 14.2% over 2019 to QR592.1mn. Group gross shops rental income amounted to QR65.1mn. Net profit in 2020 increased to QR209.0mn, a growth of QR22.5mn or 12.1% compared to 2019. Earnings per share improved to QR1.05 compared to QR0.93 reported in 2019.
At the beginning of the meeting, al-Subaie thanked His Highness the Amir Sheikh Tamim bin Hamad al-Thani for his remarkable leadership and vision of the growth, development, and security of Qatar.
He said, “Al Meera’s strong performance in the market last year is a culmination of its leading role in the FMCG sector as the national retailer of Qatar. Amongst managing consumer confidence in the face of an ongoing pandemic, economic activity was spurred by maintaining fully-stocked branches in neighbourhoods across the county with uninterrupted expansion plans, and continuous improvement across operations.
“Al Meera’s agility in responding to market needs and customer demands, a drive to create safer and efficient retail stores and a unique business model continue to bring prominence as the country’s favourite neighbourhood retailer. Moreover, we remain committed to our role in advancing Qatar’s social, economic, health and environmental well-being, emboldened by our efforts to serve the interests of our shareholders and stakeholders. Throughout our endeavours, we appreciate the collective efforts of our board of directors, management, and employees in contributing to the overall growth of the company.”
Al Meera is constantly upgrading its services to meet the needs of its continuously evolving customers. In line with this, new products will be introduced in the product mix, especially in the increasingly popular organic section.
Extensive plans remain underway for renovating and rebranding at select branches to enhance the shopping experience. Additionally, customers can also look forward to improvements on Meera Rewards with mobile application updates, and promotions, raffles, upgrades, offers, and local partnerships.
