• April 23, 2018
    Last updated 25 minutes ago

retail

Marka says it finally expects to record profitable quarter

The retailer has failed to ever turn a profit since it went public

Staff Report
17:46 April 16, 2018

Dubai: Marka, the retailer listed on Dubai’s stock exchange, say that despite a “challenging regional operating environment,” the company expects to announce its first profitable quarter ever.

Following a financial restructuring programme that was implemented last year, Marka said that they anticipated operational profitability (EBITDA) in the first quarter of 2018.

In February, the company said that its revenues for 2017 had plummeted by nearly 68 per cent, while its net losses had increased by 44 per cent.

Marka has failed to record a profitable quarter since it was listed on the stock market in 2014.