Majid Al Futtaim reports 14 percent revenue increase in H1
Majid Al Futtaim Wednesday reported an increase in its revenues by 14 percent for the first half of the year 2014 compared with last year, confirming strong performance across its businesses.
“The first half of 2014 displayed another period of robust growth for us and even more importantly it happened on the back of a strong 2013,” said Iyad Malas, chief executive officer of Majid Al Futtaim Holding LLC.
Moreover, the company’s EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) from recurring operations increased by 13 percent to Dh 1.8 billion ($0.49 billion).
Majid Al Futtaim’s performance in the first half of the year is attributed to the growth across its three business segments, retail, properties and ventures.
Founded in 1992, Majid Al Futtaim is the leading shopping mall, retail and leisure pioneer across the Middle East and North Africa.