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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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29/12/2025
As the curtain draws on 2025, National Bank of Kuwait (NBK) has firmly consolidated its position as the most visible and influential Kuwaiti bank across social media platforms. Its digital channels r
Kuwait Times
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Pay10 and Commercial Bank of Dubai has announced the go-live of Open Finance services under the UAE's Open Finance Initiative, AlTareq, marking a significant advancement in the country's transition t
Trade Arabia
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The National Bank of Bahrain (NBB) has been awarded the Citi 2024Straight-Through Processing (STP) Award in recognition of its performance in treasury payment processing.
Based on Citi's ind
Trade Arabia
29/12/2025
Bawan Company, one of the leading industrial groups in Saudi Arabia, has announced that one of its key subsidiaries - Petronash Arabia Company Limited - has received a purchase order for an existing
Trade Arabia
29/12/2025
Sohar International Bank has received approval from the Central Bank of Oman (CBO) to establish a representative office in Hong Kong, marking a key milestone in the bank's international expansion and
Muscat Daily
Financial Information Co.
Saudi Arabia