17 Sep 2012
(MENAFN) Dubai-based conglomerate Majid Al Futtaim (MAF) Holding reported a 17 percent increase in half-yearly profits, as tenants’ sales at its malls recovered, Arabian Business reported.
The mall developer said profits before interest, taxes, depreciation, and amortisation (EBITDA) hit USD408 million during the first half of 2012.
The company also reported a 15 percent increase in half-yearly revenue to USD2.9 billion, while total assets amounted to USD10.1 billion.
Iyad Malas, CEO of Majid Al Futtaim Holding, attributed the positive balance sheet to a recovery in revenue from markets previously impacted by the Arab Spring uprisings, with tenant sales increasing about 44 percent in Egypt and about 23 percent in Bahrain.
Majid Al Futtaim Properties, which accounts for 64 percent of the group’s overall EBITDA, reported 16 percent increase in revenue to USD408.3 million during the period.
Majid Al Futtaim Retail, which accounted for 31 percent of the group’s EBITDA, reported 15 percent increase in revenue to USD2.4 billion, while Majid Al Futtaim Ventures’ revenue rose 11 percent to USD105.61 million.
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more