BMMI to open four Alosra branches

MANAMA: BMMI, a Bahrain-based diversified retail and distribution, hospitality and contract services and supply group, plans to invest BD1.2 million this year to open four branches of its Alosra supermarket across Bahrain and Saudi Arabia, chairman Abdulla Hassan Buhindi told the GDN yesterday.

He was speaking on the sidelines of the company’s annual general meeting of shareholders at the Downtown Rotana.

Mr Buhindi said 2017 is expected to be another challenging year since there already exist numerous areas of political and economic uncertainty.

Shareholders have approved the distribution of cash dividend at 50 per cent (50 fils per share of which 20 fils was already distributed as interim dividend during 2016).

In 2016, the group recorded an annual sales revenue of BD96.5m accompanied by a decrease in operational profit from BD10.3m in 2015 to BD6.9m and a net profit of BD9.4m.

Source: http://www.gdnonline.com/Details/194698/BMMI-to-open-four-Alosra-branches