Marka Announces Full Year 2017 Financial Results

Press release
Published March 26th, 2018 - 12:14 GMT
Khaled Jassim Bin Kalban, Marka Chairman
Khaled Jassim Bin Kalban, Marka Chairman

Marka PJSC (DFM: MARKA), today released its consolidated financial statements for 2017. For the twelve months ending 31st December 2017, the company reported total revenue of AED 99.6 million and a net loss of AED 242.1 million - which includes provisions attributable to the company's restructuring program. The results for 2017 reflect the progress made on the company’s restructuring programme and a challenging regional operating environment in which the company has been functioning.

Marka Chairman, Mr. Khaled Jassim Bin Kalban, said: “Today, Marka is a very different company from what it was 12 months ago. Over the past year, the company has focused on exiting unprofitable businesses and building a leaner, more effective operational structure in order to grow our profitable business lines.”

Bin Kalban added: “I’m confident that with 2017 behind us and a clear focus on meeting the changing demands of our customers, the company is in a very strong position to develop value for its shareholders. The Board of Directors thanks Marka’s shareholders, employees, customers and partners for their continued support over the past year.”

Background Information

Marka Holding

Founded in 2014 and listed on the Dubai FinancialMarket, Marka PJSC (DFM: MARKA) is a world-class retail operator head quartered in Dubai, UAE. As the first publicly listed retail operator in the UAE, Marka is firmly committed to our values of excellence, fairness and transparency.


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