KHALEEJ TIMES, Wednesday, Nov 15, 2017 | Safar 26, 1439
Marka cuts losses to Dh22 million
Marka on Tuesday reported Dh22
million net loss for third quarter of 2017 with revenue amounted to Dh23 million
compared to Dh25 million in second quarter of this year.
In a statement, the company said the third-quarter result reflects the progress
the company is making on its ongoing cost control programme - with a reduction
of 75 per cent of its general expenses compared to second quarter of 2017 from
Dh45 million to Dh11 million - as well as strong operational changes that are
moving the company towards long term financial improvements.
Marka chairman, Khaled Jassim
bin Kalban, said the company is maintaining a strict cost control programme and
making strong operations improvements. "With the steady progresses made across
all brands, we are in a better position to envisage the future with
confidence. The Board of Directors thanks our shareholders, employees, customers
and partners for their continued support of our efforts."