Dubai-Mubasher: Majid Al Futtaim posted its preliminary and unaudited operational and financial results for the fiscal year 2015, showing consistent performance as the company prepares for more expansion across the region, according to the company’s statement.
The company’s revenues rose 8% to AED 27.3 billion in FY15 from AED 25 billion in FY14, while EBITDA grew 6% to AED 3.8 billion in FY15 from AED 3.6 billion in FY14.
The group’s performance was mainly attributed to continued investment in core businesses across Dubai and increased development activity in Egypt and Oman.
The company continues to maintain a strong balance sheet with total assets worth more than AED 51 billion and a net debt of around AED 9 billion.
"Majid Al Futtaim's 2015 financial performance has demonstrated the strength and resilience of our business against a backdrop of a regional economic slowdown,” CEO Alain Bejjani said, adding that “We've achieved this by continually listening to our customers and evolving our offerings in line with their changing needs.”
