Marka Announces Full Year 2017 Financial Results

date

26-Mar-2018

Dubai, United Arab Emirates,26thMarch 2018: Marka PJSC (DFM: MARKA), today released its consolidated financial statements for 2017. For the twelve months ending 31stDecember 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 businessesand 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’sshareholders, 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’soverarching goal is to be a leading company in the Middle East’s mid-to-high range F&B sector.
 

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