Alosra, the homegrown brand of Bahrain-based diversified retail and distribution, and contract services and supply group BMMI, will soon go international with the opening of its first outlet in Saudi Arabia.

BMMI chairman Abdulla Hassan Buhindi told the Gulf Daily News (GDN), our sister publication, that it was investing about BD2 million ($5.25 million) into the venture.

He was speaking on the sidelines of the company's annual general meeting at the Gulf Hotel yesterday.

Buhindi said that two more outlets of Alosra were planned for Bahrain with Hamala-Janabiya and Muharraq being the likely locations.

Last year saw the opening of two new Alosra outlets in Juffair and Saar.

The chairman said the group is also developing a secure, state-of-the art accommodation facility in Umm Qasr Port for oil and gas sector employees in Basra, Southern Iraq.

'The facility will become fully operational by the second quarter,' he said.

BMMI has reported net profit of BD11.3 million ($29.6 million) for last year, which was the highest yet and Buhindi said he was confident that the company would do even better this year.

'From a business standpoint, BMMI registered unparalleled growth on multiple fronts last year.'

It was a successful year for the beverage business with the acquisition of new agencies.

BMMI also opened two licensed high-end restaurants, in the Block 338 area of Adliya, marking its foray into the hospitality business, he said.

'Maintaining our focus on global expansion, BMMI narrowed down potential markets where it could increase its international presence.

'Africa is a region that has always proved to be a key developmental area for the Group and BMMI has expanded its operations to Kenya as well,' Buhindi said.

The company plans to review its strategic plan and the chairman said he expects the targeted results to be achieved through a mix of long and short-term strategic goals, opportunities and investments.

'Our focus will also be on diversification, constant risk monitoring and mitigation.' – TradeArabia News Service