UAE retail operator faces third loss in three quarters

06 August 2015

Firm completed three acquisitions during second quarter of 2015

  • Marka faces net loss of $584,239
  • The firm completed three acquisitions during the quarter

UAE-based retail operator Marka has made a net loss of AED2.1m ($584,239) in the second quarter of 2015. 

Marka completed three acquisitions during the quarter, including restaurant chain Reem al-Bawadi, kids store Cheeky Monkeys, party supplies firm Sweet Surprises and sports memorabilia company Icons.

The company recently announced the acquisition of the Middle East franchise operations for luxury ice cream chain Morelli’s Gelato.

Since its listing in April 2014 with a starting capital of AED500, the firm recorded a AED13.6m loss in the fourth quarter that year, and another loss worth AED8.3m in the first quarter of 2015.

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