- Restructuring program continues to make positive impact
- Foundations in place for proposed capital restructuring
Dubai, United Arab Emirates – Marka PJSC (DFM: MARKA), released today its interim financial results for the second quarter of 2018. For the three months ending 30 June 2018, Marka reported a total operational profit (EBITDA) of AED 2.8 million compared to a reported operational loss for the same period in 2017 (EBITDA) of AED 48.6 million – the second consecutive operationally profitable quarter for the company.
Mr. Khaled Bin Kalban, Chairman of Marka, commented: “The positive results of this quarter and for 2018 so far reflect the progress the company is making on its restructuring program - in light of the challenges over the past two years. The efforts of the Marka management team have put the company in a stronger position ahead of the capital restructuring that has been proposed for later this year and will instill confidence in the company’s future, for the shareholders. On behalf of the Board of Directors, I would like to thank our shareholders, partners, employees, and customers for their ongoing support as we continue to improve.”
Benoit Lamonerie, Group CEO of Marka, said: “The focus of Marka’s team is on building a lean, agile and profitable business supported by a performance-driven culture. This commitment is now yielding positive results, as demonstrated by our second consecutive operationally profitable quarter. We continue to be committed to the healthy recovery and growth of the company and delivering shareholder value in the near future.”
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About Marka
Marka Holding, listed in the Dubai Financial Market since 2014 is focused on building a diverse portfolio of homegrown concepts, ranging from casual eateries to fine dining establishments. Complimenting these homegrown 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. A combination of 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 with our overarching goal be a leading company in the Middle East’s mid-to-high range F&B sector.
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