Majid Al Futtaim revenue up 8% to Dh27.3b in 2015

Dubai: Majid Al Futtaim, a Dubai-based retail and hospitality conglomerate, saw revenue grow 8 per cent  year-on-year in 2015 to Dh27.3 billion, according to a statement on Monday.

The group’s earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 6 per cent to Dh3.8 billion.

The growth was mainly driven by continued investment in the company’s core businesses across Dubai and increased development activity in Egypt and Oman, as per the statement.

Total assets of the company are valued at more than Dh51 billion and it has a net debt of around Dh9 billion.