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Majid Al Futtaim posts 15% YoY growth in H1 revenues

Majid Al Futtaim posts 15% YoY growth in H1 revenues

Arab Finance: Majid Al Futtaim reported a 15% year-on-year (YoY) increase in revenues for the first half (H1) of 2022, recording AED 18 billion, according to a press release on August 24th.

The group’s earnings before interest, taxes, depreciation, and amortization (EBITDA) jumped by 18% YoY in H1 2022, registering AED 1.9 billion.

Moreover, the group’s balance sheet remained strong in the first six months of 2022, with total assets standing at AED 62.9 billion and net borrowings reaching AED 11.2 billion.

The positive financial results reported for H1 2022 were driven by the group’s steady recovery in retail and leisure sectors, along with its strong operational performance.

Founded in 1992, Dubai-based Majid Al Futtaim is a leading shopping malls, communities, retail, and leisure pioneer across the Middle East, Africa, and Central Asia.

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