Marka, a Dubai-based retailer and owner of a group of restaurants, narrowed its second quarter loss on after the cost of sales and expenses fell as the company continues to restructure its business.
Net loss for the three-month period ending June 30 came down to Dh12 million from Dh126m reported for the same period in 2017, Marka said in a regulatory filing to the Dubai Financial Market. Cost of sales fell 40 per cent year-on-year to Dh10.8m, while expenses for the period shrunk by 75 per cent to Dh11m. The second-quarter revenue also declined 22 per cent to Dh19.9m, it added.
The results “reflect the progress the company is making on its restructuring program – in light…
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