H E Dr. Abdulla bin Abdulaziz bin Turki Al Subaie, Chairman of the Board of Directors and other officials during the Annual Ordinary General Assembly of Al Meera.
Doha: Despite the challenging situation last year, the Al Meera Group played an important role during COVID-19 pandemic by ensuring the availability of essential items for the people, said H E Dr. Abdulla bin Abdulaziz bin Turki Al Subaie, Chairman of the Board of Directors, addressing the shareholders during the Annual Ordinary General Assembly (AGM).
Al Meera Consumer Goods Company held its AGM on Sunday at the Westin Doha Hotel and Spa. During the AGM, all items on the agenda were discussed and approved including the Board’s recommendation to distribute cash dividends equivalent to QR0.90 per share.
In addition, in presence of the Ministry of Commerce and Industry, shareholders elected five Board members by secret ballot to represent the private sector, most of them independents.
The elected members are Khaled Ibrahim Mohammed Abu Yaqoub Al-Sulaiti, Sheikh Fahad Falah J J Al Thani, Ahmed Abdulla M A Al Khulaifi, Hetmi Ali Khalifa Al Hitmi and Mohammed Abdullah Ahmed Al-Mustafawi Al Hashemi.
Opening the Meeting, Dr. Abdulla bin Abdulaziz bin Turki Al Subaie, thanked Amir H H Sheikh Tamim bin Hamad Al Thani, for his remarkable leadership and vision of the growth and development. He also praised Prime Minister and Minister of Interior HE Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani, for his continued support and sound guidance.
Dr. Abdulla bin Abdulaziz bin Turki Al Subaie, Chairman of the Board of Directors, commented on Al Meera’s performance, stating: “The past year has been challenging for all businesses. Despite this, the Al Meera Group played a vital role during the COVID-19 pandemic by ensuring the availability of essential items for the people of Qatar while achieving another excellent financial performance for our shareholders.
“Al Meera stores continue to see growing demand, reflecting how much our customers value Al Meera’s offer of high-quality products at the most affordable prices in all our neighborhood stores.”
He said “As we emerge from the pandemic a much stronger business, I am confident that the Al Meera Group will continue to exceed the expectations of its customers and stakeholders in line with the company’s vision and in support of Qatar’s National Vision 2030.”
“The achievements of the past 12 months would not have been possible without the commitment and hard work Al Meera’s management team and staff, and without the support and trust of our valuable customers and shareholders,” he added.
In keeping with Al Meera’s ambitious expansion plans, 2021 saw the opening of four new branches – two retail stores in Al Asmakh Mall and in the Jeryan Jenaihat neighborhood, and two new wholesale branches at Al Sailiya Central Market and at Al Wakrah Central Market, bringing Al Meera Group expansion with its operations to 60 stores.
As Qatar’s leading national retailer, Al Meera is delighted to see the country’s economy reaching new heights and proud to play a significant part in that success. The year 2022 will be important and unprecedented year for the nation, when Qatar welcomes the football world. Al Meera is already showing its support by recently announcing an agreement to market officially licensed products and merchandise for the FIFA World Cup Qatar 2022.
Showing the company’s longstanding support for local farmers and entrepreneurs, Al Meera launched the ‘Local Fruits and Vegetables’ initiative in cooperation with the Ministry of Municipality and Environment across all branches, thereby creating the grocery retail network in the country.
For the year ended December 31, 2021, Al Meera achieved consolidated sales of QR2.8bn. Gross profit reached QR551.4m while the net profit is QR196.2m. Earnings per share were
at QR0.98.
