Doha – Al Meera Consumer Goods Company (QSC) held its annual ordinary general assembly at La Cigale Hotel, in presence of Sheikh Thani Bin Thamer Bin Mohamed Al Thani, Chairman of the Board of Directors, as well as members of the Board of Directors, shareholders and investors.
The Assembly approved the Board of Directors’ proposal on the distribution of cash dividends of QR8.5 per share. Moreover, the Board of Directors were discharged from liabilities and the meeting approved their remuneration for the year ended December 31, 2017.
At the beginning, Al Thani thanked Emir H H Sheikh Tamim Bin Hamad Al Thani, Father Emir H H Sheikh Hamad Bin Khalifa Al Thani, on the wise leadership and support as well as H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani, Prime Minister, for his direction to all ministries and concerned to overcome the difficulties that the company may face.
Dr Saif Said Al Sowaidi, Vice Chairman of the Board of Directors, delivered board of Directors speech, stating: “In 2017, Al Meera made strides to continue its expansion plan. This translated in the launch of four new shopping centres, bringing the number of branches to 47. The Company also opened three convenience stores; two in education institutions – Doha Institute and HBKU (Qatar Foundation) – to offer students easy access to their daily needs, and a third in Al Udeid Army Camp to serve the country’s military personnel. By the end of 2017, Al Meera recorded a network of 52 branches with 47 in Qatar (endowed with a total retail space of nearly 71,552 m2, including its hypermarket at Hyatt Plaza) and 5 in the Sultanate of Oman.”
One of the highlights of the year was the expansion of Al Meera’s international supply chain, in response to the changing market dynamics and regional logistical challenges. This has led to opening previously untapped markets in the region and beyond.
The company’s achievements, continuous growth and sustained profitability over its decade-long history, culminated in Forbes Middle East honoring Al Meera for its pivotal role in shaping Qatar’s economy and leading the country towards another successful era.
Al Meera will focus on completing its projects that are scheduled to come on-line in the first quarter of 2018, and will continue coordinating with the Ministry of Municipality and Environment to ensure that as the State of Qatar continues in its quest for urban growth and expansion, Al Meera will be the partner of choice to serve those areas.