Marka Announces Q2 2017 Financial Results

Tuesday 15 August 2017
Dubai - MENA Herald:

Marka PJSC (DFM: MARKA), the first retail-focused company listed on the Dubai Financial Market, today released its audited financial results for the second quarter ending 30th June 2017. The company reported total revenue of AED 25.48 million. Total losses reported for the period were AED 125.97 million, attributed to the company’s restructuring program currently underway; however, net operating loss from Q2 2017 was AED 35.90 million.

Mr. Khaled Jassim Bin Kalban, Marka Chairman, said: “Over the past 12 months, Marka has faced unprecedented changes in the region’s retail markets, driven by changing consumer behaviour and geopolitical influences. As a result, the company is restructuring its divisions and exiting underperforming businesses. Our focus moving forward is on the local and regional growth potential of our strong portfolio of F&B brands. The results announced today reflect the efforts of the company’s restructuring program, which will result in a lean and efficient company with profitable assets.”

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