Majid Al Futtaim, the development and management of shopping malls, integrated cities, retail and entertainment facilities, today announced its financial and operating results for the first half of the year, achieving a 1% increase in revenue to AED 17.9 billion. Taxes, depreciation and amortization were AED 2.1 billion, an increase of 1% compared to the same period last year.
The total value of assets held by the company increased by 7% to reach AED 64 billion, while net debt amounted to AED 12.7 billion, the company said in a statement.
Alain Bejjani, CEO of Majid Al Futtaim Holding, said: “The solidity and balance of our business model is one of the key factors that contributed to the stability of the financial performance during the first half of the year. ».
During the first half of this year, Majid Al Futtaim continued to expand its core business portfolio across new markets, adding 19 new Carrefour stores, two new shopping centers and 65 new VOX Cinemas.
He explained that the sales of movie tickets online accounted for 59% of the total sales of tickets, compared to 46% during the same period last year, while the purchase of tickets in Saudi Arabia online completely, while the first half of this year saw twice the number of purchase orders Carrefour stores through its digital platforms compared to all transactions in the whole of 2018.
Dubai - UAE Today