Dubai-Mubasher: Dubai-based Majid Al Futtaim (MAF), which holds the regional franchise for Carrefour, said net profits grew by 30% for the year 2014.
The group’s financial statements showed AED 2.567 billion in net profits, compared with AED 1.971 billion in 2013.
Revenues also rose by 11% year-over-year to AED 25.22 billion from AED 22.7 billion, while earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 10% y-o-y to AED 3.6 billion.
MAF develops and operates shopping malls as well as retail and entertainment facilities across MENA.
CEO Alain Bejjani said the company has maintained strong financial performance thanks to expansions locally and across MENA region, adding that it kept growth rate at 11% year-over-year.
