Tuesday 1 April 2014

Majid Al Futtaim posts Dh1.9 billion in 2013 profit | GulfNews.com

Majid Al Futtaim posts Dh1.9 billion in 2013 profit | GulfNews.com:



"Dubai-based Majid Al Futtaim (MAF) Holding recorded a profit of Dh1.9 billion in 2013 compared to Dh1.6 billion in 2012, the company said in a statement on Monday.



“2013 was a year of solid top line growth for the business,” stated Iyad Malas, MAF Holding’s Chief Executive Officer.



The company’s revenue reached Dh23 billion in 2013, up 10 per cent over 2012, while net profit from continuing operations declined 0.6 per cent to Dh1.9 billion.



Earnings before interest, taxes, depreciation and amortisation (Ebitda) touched Dh3.3 billion, marking an 11 per cent increase over 2012.



Also, total assets reached more than Dh39 billion, while net debt touched Dh7 billion."



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