Marka, the UAE's first publicly-traded retail operator, has already started to show beneficial impact on the company as it expects to achieve operational profitability (EBITDA) in the first quarter of 2018 versus an operational loss of AED 4.6 million in the previous quarter, following its 2017 restructure programme.
The results reflect the progress made by Marka PJSC over the past year and place the company in a strong position to undergo capital restructure, meet the changing demands of its customers and develop value for its shareholders.
“Over the past 12 months, Marka PJSC has focused its efforts on streamlining its structure, exiting unprofitable businesses and making the company ready for future growth. Today, we are pleased to see the positive results this exercise has had, as achieving operational profitability is an important milestone. Marka PJSC is now ready to face the future with confidence,” said Khaled Jassim Bin Kalban, Chairman of Marka.