Majid Al Futtaim Holding reports first half EBITDA up 11% - Business Intelligence Middle East - bi-me.com - News, analysis, reports:
"Majid Al Futtaim Holding LLC, the leading shopping mall, retail and leisure pioneer across the Middle East released today its trading results for the half year ended 30 June 2013, announcing yet another period of strong performance of its business operations.
The company’s revenues reached AED 11.3 billion, a 10% increase on H1 2012, at the same time its EBITDA from recurring operations grew by 11% to reach AED 1.6 billion (US$436 million).
Majid Al Futtaim Holding continues to maintain a strong balance sheet with total assets valued at over AED 39 billion and a net debt of around AED 8.6 billion. An investment-grade rating of BBB was re-affirmed in 2013 by both Standard and Poor’s and Fitch Ratings, which is the highest credit rating assigned to any privately-held corporate in the Middle East."
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