April 25, 2018 1:15 AM ET

Food and Staples Retailing

Company Overview of Meikles Limited

Company Overview

Meikles Limited, an investments holding company, engages in the retail trading, wholesaling, agriculture, hotels, and security guard service businesses in Zimbabwe and internationally. The company operates department stores under the Meikles, Barbours, and Meikles Mega Market brand names that offer a selection of electronic and household appliances, ladies’ and men’s fashions, clothes for boys’ and girls’, furniture, kitchenware, luggage and travel accessories, shoes and footwear, baby and toddler gears, toys, and other family goodies, as well as hardware products. It also operates a network of 52 TM supermarkets and hypermarkets. In addition, the company operates the Meikles Hotel and the V...

90 Speke Avenue

Ground Floor

PO Box 3598

Harare,  

Zimbabwe

Phone:

263 4 252068

Fax:

263 4 252067

Key Executives for Meikles Limited

Meikles Limited does not have any Key Executives recorded.

Meikles Limited Key Developments

Meikles Limited Announces Unaudited Consolidated Earnings Results for the Six Months Ended September 30, 2017; Provides Earnings Guidance for the Second Half of Fiscal Year 2018

Meikles Limited announced unaudited consolidated earnings results for the six months ended September 30, 2017. For the six months, the company's revenue was $253,989,000 against $225,898,000 a year ago. Operating profit was $8,838,000 against $3,643,000 a year ago. Profit before tax was $5,389,000 against loss before tax of $613,000 a year ago. Loss for the period attributable to owners of the parent was $41,000 or 0.01 cents per diluted share against $3,655,000 or 1.34 cents per diluted share a year ago. Diluted headline loss per share was 0.27 cents per diluted share against 1.04 cents per diluted share a year ago. Net cash generated from operating activities was $18,967,000 against $16,292,000 a year ago. Payment for property, plant and equipment was $7,465,000 against $6,317,000 a year ago. EBITDA was $15,260,000 compared to $9,554,000 a year ago. Net borrowings was $38,710,000 compared to $50,581,000 a year ago. The group is expected to increase its EBITDA performance during the second half of the financial year 2018. Strategies to reduce short term borrowings further during the remaining months of the financial year are in the process of being implemented.

Meikles Limited, Annual General Meeting, Sep 26, 2017

Meikles Limited, Annual General Meeting, Sep 26, 2017, at 07:00 Coordinated Universal Time. Agenda: To receive and adopt the group financial statements for the year ended 31 March 2017 and the reports of the directors and auditors; to consider the re-appointment of directors; to confirm directors' fees amounting to USD 32,145 for the year ended 31 March 2017; to approve the auditors' fees of USD 98,000 for the year ended 31 March 2017; and to appoint auditors for the year ending 31 March 2018.

Meikles Limited Auditor Raises 'Going Concern' Doubt

Meikles Limited filed its Annual on Sep 05, 2017 for the period ending Mar 31, 2017. In this report its auditor, Deloitte & Touche LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

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