Al Meera AGM approves cash dividend of QR8.5 per share

Al Meera Consumer Goods Company (Al Meera) held its Ordinary General Assembly meeting yesterday and approved all the items on the agenda of the meeting, including the Board of Directors’ proposal for the distribution of cash dividend of QR8.5 per share.

Despite challenges in the retail sector during the year 2018 Al Meera Group’s sales increased to QR3bn from QR2.8bn in 2017, up by 4.7 percent, or QR134.8m. Its gross profit increased to QR496.4m in 2018 from QR477.9m for the same period last year. The Group’s gross shops rental income increased 9.1 percent (QR6.3m), from QR69.5m to QR75.8m. Al Meera Group’s operating income increased by 4.1 percent (QR23m), from QR563.7m to QR586.7m.

The AGM was held in the presence of Sheikh Thani bin Thamer bin Mohamed Al Thani, Chairman of the Board of Directors.

Dr Saif Said Al Sowaidi, Vice-Chairman of the Board of Directors, delivered board of Directors speech, and said: “As the ongoing unjust economic blockade imposed on Qatar enters its second year, and consumer spending in many sectors, including the retail sector, continues its decline, with several retail chains exiting the Qatar market, Al Meera has not only managed to retain its market share but has seen its sales grown by 4.7 percent in 2018 compared to 2017. Over the last 8 years, Al Meera has expanded and grown significantly in line with the strategic directives set by the Board, from 25 stores, at the beginning of 2011, to 52 stores in Qatar, plus 5 stores in Oman. The total store selling area of the Group currently exceeds 97,000 m2 approximately.”

He added, “The increase in the number of new world-class stores in more neighborhoods and regions across Qatar has made it possible for Al Meera to solidify its position as the country’s retailer of choice. Al Meera continues to play a strategic and important role in supporting country’s economy. In the Sultanate of Oman, Al Meera has started the construction of its commercial center in Al Amirat, with the second commercial center in Salalah under bidding, to fulfil its vision for the Omani market to double its network of branches in the Sultanate. Furthermore, a new branch has been opened in Sohar replacing an old branch.”

“To maintain lead, we have started to focus on team training and building, and strong predetermined Key Performance Indicators (KPIs) to control our daily operations. With the motto, ‘Retail is detail,’ we are strongly placed at satiating consumer demands on time every time.”

Dr Al Sowaidi reflected on the performance the company achieved in the year 2018 and offered insights on the company’s 13th Board of Directors Report, which includes the Company’s operations statement and its financial position for the year ended December 31, 2018.

Comenting on the redesigning of the existing branches, he said: “To accomplish Al Meera’s re-defined Mission and Vision Statements and Brand Positioning, Operations’ target is focused on ‘excellence’. To ensure Al Meera is meeting the best possible customer experience, we are reviewing and re-designing 100 percent of our store layout and pangramme with regards to respecting and implementing our daily basic tasks and responsibility to our customers. To ease our customer shopping experience, we are making sure products are assorted in a more convenient way.”

He added: “Adopting a direct import approach to securing our independency in some key lines, has made it possible for Al Meera to align with Qatar strategic objectives to ensure food supplies continuity and availability (more than 500 products from different origins: Turkey, India, Oman, Macedonia, have been introduced to the Qatar market in 2018).”

Commenting on the future plans, he said that the development of the new mall in Rawdat Al Hamama is nearing completion and this mall is planned to open for business in the third quarter of 2019. Indeed, the year 2019 will witness the construction of Al Jumailia branch and Al Shamal branch.

In addition to proposed 10 MAAR convenience stores in Qatar Rail, which it announced late last year, Al Meera has 20 pieces of land from the Qatar government currently under study and evaluation for future development. Of these 20 pieces of land, Al Meera have started soliciting consulting companies for Design Consultancy and Technical Services for 5 of these sites in 2019.

The Group is also assessing the feasibility of leasing various new sites in Qatar, and considering a number of potential acquisition opportunities, which, if executed, will enlarge operations and contribute significantly to future sales. The main expansion objective for 2019 is to increase the selling area of the Group from the current 97,000 m2 to over 100,000 m2 by the end of the year.

By Mohammad Shoeb I The Peninsula

صادقت الجمعية العامة العادية لشركة الميرة للمواد الاستهلاكية المنعقدة أمس، على توصية مجلس الإدارة بتوزيع أرباح نقدية على المساهمين بقيمة 8.5 ريال للسهم الواحد. كما أقرّت الجمعية العامة العادية للشركة خلال اجتماعها، الذي عقدته مساء أمس برئاسة سعادة الشيخ ثاني بن ثامر بن محمد آل ثاني رئيس مجلس الإدارة، جميع البنود المدرجة على جدول الأعمال.

خلال الاجتماع، قام الدكتور سيف سعيد السويدي نائب رئيس مجلس إدارة شركة الميرة، باستعراض تقرير مجلس الإدارة، موضحاً أن «الميرة» تمكنت من الاحتفاظ بسوقها وارتفعت حصة الشركة من المبيعات بنسبة 4.7% في عام 2018 مقارنة بعام 2017، وعلى مدى السنوات الـ 8 الماضية، وانسجاماً مع التوجيهات الاستراتيجية التي وضعها مجلس الإدارة توسعت الميرة ونمت بشكل كبير، من 25 متجراً في بداية عام 2011، إلى 52 متجراً

في دولة قطر، بالإضافة إلى 5 متاجر في سلطنة عُمان، ليتجاوز إجمالي مساحة متاجر البيع للمجموعة حوالي 97000 متر مربع.

توسع

وأفاد نائب رئيس مجلس الإدارة بأن الزيادة في عدد المتاجر الجديدة ذات الطراز العالمي في جميع أنحاء قطر قد مكّنت شركة الميرة من ترسيخ مكانتها كمتجر التجزئة المفضل في البلاد، كما تواصل الشركة لعب دور استراتيجي ومهم في دعم اقتصاد البلاد، وفي سلطنة عُمان بدأت الميرة بناء مركزها التجاري في العامرا، إضافة إلى مركزها التجاري الثاني في صلالة -تحت المناقصة- لتحقيق رؤيتها للسوق العُماني لمضاعفة شبكة فروعها في السلطنة، علاوة على ذلك، تم افتتاح فرع جديد في صحار ليكون بديلاً عن الفرع القديم.