MANAMA: Shareholders of BMMI, a diversified retail, distribution, hospitality and contract services and supply group, have approved a dividend of 50 per cent, or 50 fils per share, of which 20 fils was already distributed in August last year.
The company’s chairman Abdulla Hassan Buhindi unveiled plans to open another branch of its Alosra supermarket in Saudi Arabia this year adding to the two already present in that country.
He was speaking on the sidelines of the company’s annual general meeting of shareholders at the Downtown Rotana.
The group has reported an annual revenue of BD101.8 million and a net profit of BD8.6m last year.
“In 2017, we continued to operate from a strong position, with a solid financial performance and healthy financial reserves, enabling the group to achieve its goals and meet the expectations of our shareholders despite economic difficulties in the region,” said Mr Buhindi.
He said 2018 is expected to be another challenging year although the company expects to do better this year than last year.
Despite consolidating its position in some African markets, in addition to the anticipated ongoing long-term investment in its hotel division, BMMI still managed to deliver great results throughout 2017, added the chairman.
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