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FINANCIAL NEWS
Dubai’s Marka forecasts to record profits in 2016
27 May 2015
(MENAFN) Dubai-based Marka Holding, the retail developer, forecasts a profitable year for 2016, changing from a previous timeline set onto this year’s fourth quarter, Arabian Business reported.
Marka has been on a roll of significant acquisitions, determined to turn the company back onto profitable tracks. One if its most recent investments is the 65 percent acquisition in Icons, for about USD4.2 million.
“The company has to consolidate the acquisitions,” the Managing Director of Marka Holding said in a statement, explaining why the profitability was delayed.
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