Dubai mall operator Majid Al Futtaim posts H1 revenue at $4.87bln | ZAWYA MENA Edition:
Shopping mall and leisure pioneer Majid Al Futtaim has posted a revenue of $4.87 billion (17.9 billion dirhams) for the first six months (H1) of the year, an increase of one per cent year-on-year, the company said in a statement.
EBITDA increased by 1 per cent at 2.1 billion dirhams, while the group’s increased focus on working capital management and operational excellence resulted in operating cash flow amounting to 115 per cent of EBITDA.
The group’s assets increased 7 per cent to approximately 64 billion dirhams, on account of the introduction of IFRS16. Net borrowings for the first half of the year stood at around 12.8 billion dirhams.
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