Marka cuts losses to Dh22 million

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Marka cuts losses to Dh22 million

Published: Tue 14 Nov 2017, 9:19 PM

Last updated: Tue 14 Nov 2017, 11:27 PM

Marka on Tuesday reported Dh22 million net loss for third quarter of 2017 with revenue amounted to Dh23 million compared to Dh25 million in second quarter of this year.  
In a statement, the company said the third-quarter result reflects the progress the company is making on its ongoing cost control programme - with a reduction of 75 per cent of its general expenses compared to second quarter of 2017 from Dh45 million to Dh11 million - as well as strong operational changes that are moving the company towards long term financial improvements.
Marka chairman, Khaled Jassim bin Kalban, said the company is maintaining a strict cost control programme and making strong operations improvements. "With the steady progresses made across all brands, we are in a better position to envisage the future with confidence. The Board of Directors thanks our shareholders, employees, customers and partners for their continued support of our efforts." - business@khaleejtimes.com
 
 

By Staff Report

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