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16/08/2017 07:26 AST
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.
Trade Arabia
15/02/2018
Marka continued its dismal run of results on Wednesday, with revenues for 2017 plummeting by nearly 68 per cent, and net losses increasing by 44 per cent.
The Dubai Financial Market-listed
Gulf News
15/11/2017
Marka released its third quarter financial results on Tuesday, reporting a net loss of Dh22 million, an improvement of sorts given the company's losses of Dh126 million in the second quarter of 2017.
Gulfnews
12/10/2017
Marka, the retailer which started restructuring its business earlier this year, after failing to turn a profit since its 2014 listing in Dubai, plans to sell under-performing assets, restructure its
The National
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Gulf Bank announced its sponsorship and participation in the orientation event for new students organized by the American University of Kuwait, as part of its ongoing commitment to engage with new st
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Ooredoo Group has sold a minority 6% stake in Meeza- QSTP, Doha's leading managed information technology services and solutions provider, to certain funds managed by Fiera Capital (UK) at the current
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Al Mahhar Holding Company, a public shareholding company providing specialised services and products to the energy and infrastructure sectors, has been included in the FTSE Russell Global Equity Inde
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AD Ports Group has laid the foundation stone for the Noatum Ports Luanda Terminal at the Port of Luanda, marking the commencement of one of the most significant port modernisation and expansion proje
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Qatar Industrial Manufacturing Company (QIMC) has signed an agreement to purchase a 7% stake held by Qatar Oman Investment Company in Qatar Aluminum Extrusion Company (QALEX), bringing its total stak
Gulf Times
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