Meikles Limited reports that government policy changes through Statutory Instrument 34 of 2025 have created better conditions for formal retailers. The new regulations eliminate penalties for businesses that set prices above official exchange rates and provide greater pricing flexibility based on market conditions. Acting group chairman Fayaz King released financial results for the period ending February 28, 2025, highlighting the supermarket division's strong liquidity position. Foreign currency sales reached 32 percent of total supermarket revenues compared to 27 percent the previous year. Unit sales volumes increased by 8 percent during this period.
Group revenue dropped 2 percent to ZiG12.5 billion when adjusted for inflation but showed 29 percent growth using historical cost measurements. The supermarket operations generated 99.6 percent of total group revenue with gross profit margins remaining stable at 22.69 percent. Three store locations closed while one new branch opened during the reporting period. The company continues major property renovations in Bulawayo that will create the city's largest retail complex. Revenue from external tenants in the properties division jumped 34 percent as refurbishment projects progressed toward completion.
Group revenue dropped 2 percent to ZiG12.5 billion when adjusted for inflation but showed 29 percent growth using historical cost measurements. The supermarket operations generated 99.6 percent of total group revenue with gross profit margins remaining stable at 22.69 percent. Three store locations closed while one new branch opened during the reporting period. The company continues major property renovations in Bulawayo that will create the city's largest retail complex. Revenue from external tenants in the properties division jumped 34 percent as refurbishment projects progressed toward completion.
