Abu Dhabi Co-Operative Society, now part of the Mair Group, recently held its annual general assembly meeting, to announce and discuss the results of the fiscal year 2023.
The meeting was led by Captain Mohammed Juma Al Shamisi, Chairman of the Board of Directors at Mair Group.
During the meeting, various strategic initiatives were approved, as well as reviewing the financial performance and successes achieved by Abu Dhabi Co-Operative Society throughout 2023.
Future goals and ambitions were also discussed, which aim to further strengthen Mair Group’s position as a major contributor to the UAE’s food security system and ensure sustainable growth for its shareholders.
Listing on ADX
The most prominent topics of the meeting included listing the company shares on the Abu Dhabi Securities Exchange – ADX.
“This year has been an exceptional one in the journey of Abu Dhabi Cooperative Society, where we have achieved remarkable successes thanks to a clear strategic vision and the efforts of the team,” stated Captain Al Shamisi.
“During our discussions at the meeting, we approved an ambitious expansion plan that includes the implementation of 10 new projects in Abu Dhabi and Al Ain, in addition to 7 other projects in Al Dhafra region,” remarked Nehayan Hamad Balrakad Alameri, Managing Director and CEO, Mair Group.
It is noteworthy that Mair group achieved revenues of AED 1.2bn in the first half of 2024, and net profit before interest, taxes, depreciation, and amortization amounted to AED 171mn.
