Meikles’ Revenue Rises 29% Amid Retail Sector Growth Expectations

Meikles’ Revenue Rises 29% Amid Retail Sector Growth Expectations

Meikles Limited, a retail company in Zimbabwe is optimistic about the future growth of the retail sector following the repeal of Statutory Instrument (SI) 81A through SI 34 of 2025. The repeal allows businesses to price goods and services more flexibly, enabling them to adjust prices based on market conditions.

According to Mr. Fayaz King, Acting Group Chairman, the repeal marks a turning point for formal retail, restoring fair trading conditions and enabling price competitiveness in US dollar terms. Meikles’ supermarket segment, trading as TM Pick n Pay, is well-positioned to capitalize on these improvements, with a healthy liquidity profile and sustained consumer demand.

The company’s revenue grew by 29% in historical cost terms, with the supermarket segment contributing 99.6% of the group’s revenue. The group’s properties division is nearing completion of the refurbishment and expansion of assets, particularly in Bulawayo, which is expected to drive revenue growth in the properties segment.

With the repeal of the pricing law, Meikles is poised to benefit from the expected growth in the retail sector. The company’s strategic priorities, including investments in high-impact areas and expansion opportunities, are expected to drive revenue growth and enhance customer loyalty.