- Results aligned with Marka’s corporate restructuring programme
- The company is now in a stronger position to develop profitable businesses
Dubai, United Arab Emirates: Marka PJSC (DFM: MARKA), today released its consolidated financial statements for 2017. For the twelve months ending 31st 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.”
About Marka PJSC:
Marka Holding, listed in the Dubai Financial Market since 2014, is focused on building a diverse portfolio of home-grown concepts ranging from casual eateries to fine dining establishments. Complementing these home-grown concepts, international F&B brands have sought out the expertise of Marka Holding when seeking to establish a footprint in the region’s growing F&B landscape. Marka’s decades of experience in the financial, business development, marketing, real estate and hospitality industries ensures that each concept has the foundation it needs to guarantee success. Marka’s overarching goal is to be a leading company in the Middle East’s mid-to-high range F&B sector.