Marka Posts $7 Million in Revenues for Q2 2017
Marka, the first retail-focused company listed on the Dubai Financial Market, has reported total revenue of Dh25.48 million ($6.9million) for the second quarter of the year.
Total losses reported for the period were Dh125.97 million, attributed to the company’s restructuring program currently underway; however, net operating loss from Q2 2017 was Dh35.90 million.
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,” he added.
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.