Marka posts Dh126m loss


Marka posts Dh126m loss

Published: Tue 15 Aug 2017, 12:46 PM

Last updated: Tue 15 Aug 2017, 7:04 PM

Marka, the first retail-focused company listed on the Dubai Financial Market, on Tuesday said it posted Dh125.97 million second-quarter loss due to the company's restructuring programme currently underway.
However, net operating loss from Q2 2017 was Dh35.90 million. The company reported total revenue of Dh25.48 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 programme, which will result in a lean and efficient company with profitable assets."

By Staff Report

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