Marka on Tuesday announced a loss for 2016 of Dh88m, despite an increase in revenue.
The company’s revenue grew to Dh291m, an increase of over 35 per cent from 2015. Loss per share stood at Dh0.18.
The retail company said in a statement on the DFM that the increased revenue was due to new stores opening during the year.
Shareholder Equity stood at Dh352m, down from Dh453m in 2015.
The net loss for 2015 was Dh56.9m.
The annual loss follows reports of several new deals for the company.
Marka announced on Monday the premier of its home-grown retail concept called Paris 68, which is expected to open its first outlet in the first quarter of 2017. In January it announced that it had signed a five-year contract that gives them exclusive rights to manufacture, distribute and sell Real Madrid products across the GCC.
