Marka Announces Full Year 2017 Financial Results

Marka PJSC (DFM: MARKA), today released its consolidated financial statements for 2017. For the twelve months ending 31^st 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.”