Al Meera Consumer Goods Company held its Annual Ordinary General Assembly virtually on April 9 in the presence of Chairman of the Board of Directors Abdulla Abdulaziz Turki Al Subaie, members of the Board of Directors, shareholders and investors.
During the AGM, the participants discussed all items on the agenda, including listening to and approval of the Board’s report for the year ended December 31, 2022 and discussing and approving the company’s future business plans.
The meeting also approved the Board’s recommendation to distribute cash dividends amounting to QR90m of the nominal value of the shares at the rate of QR0.45 per share in addition to 3 percent bonus shares, as well as the validation of the external auditor’s report of the year ending December 31, 2022 and discussing the company’s financial statements for the year.
Moreover, the AGM adopted the13th Corporate Governance Report, discharged the Board members from liabilities and determined the remuneration for the Board of Directors for the year ended 31 December 2022, and appointed an external auditor and determined their fees for the financial year 2023.
During the year, Al Meera recorded consolidated sales of QR2.8bn with gross profit of QR548.8m. The company’s gross rental income amounted to QR83.2m with an increase of QR1.9m in Chairman of the Board of Directors Abdulla Abdulaziz Turki Al Subaie congratulated t Amir H H Sheikh Tamim bin Hamad Al Thani, H H the Father Amir Sheikh Hamad bin Khalifa Al Thani, the Deputy Amir H H Sheikh Abdullah bin Hamad Al Thani, the Prime Minister and Minister of Foreign Affairs H E Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, government and people of the State of Qatar on the successful and outstanding hosting of the FIFA World Cup Qatar 2022, described as the best in the history of the tournament.
The Chairman of the Board of Directors also thanked the Amir H H Sheikh Tamim Bin Hamad Al Thani for his wise leadership and vision for the continuous growth, development and security of Qatar, making the country the most peaceful in the world and thus creating an enabling environment for economic prosperity.
Commenting on Al Meera’s overall performance in 2022, Chairman of the Board of Directors Abdulla Abdulaziz Turki Al Subai, said: “The year 2022 was a special year for Al Meera and Qatar as the country prepared and hosted for the FIFA World Cup Qatar 2022. Al Meera played a vital role in contributing to the successful hosting of the FIFA World Cup Qatar 2022, the first in the Middle East and Arab world, by making shopping services more easily accessible and convenient to Qatar residents and the football fans who visited the country during the tournament. To ensure that our customers and Qatar’s guests during the World Cup have easy access to their basic needs in their neighborhoods, Al Meera opened 10 temporary stores at strategic locations across the country, in addition to its over 60 branches. The company also intensified its expansion plans during the year by opening a new branch in Al Karaana area; a first self-checkout mini-market in the Qatar Energy 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 – 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.
He added, “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 favorite neighborhood 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.”
