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 Morellis 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.
You might also like...
Algeria signs oil deal with Swedish company
19 April 2024
Masdar and Etihad plan pumped hydro project
19 April 2024
Ewec signs Ajban solar PV contract
19 April 2024
Contractor orders compressors for onshore project
18 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.