Emirati retail conglomerate Majid Al Futtaim reported on Wednesday an 18 percent rise in EBITDA to AED1.9 billion ($517 million) and a 15 percent increase in revenue to AED18 billion.
The group, which operates across the Middle East, Africa and Central Asia said it registered “strong performance across hotels, shopping malls and communities driven by the ‘EXPO effect’”. The group did not disclose the net profit figure.
In a statement, Majid Al Futtaim said it recorded a 73 percent rise in digital grocery retailing and opened Carrefour UAE’s first BIO store.
Chief Executive Officer Alain Bejjani said, “A strong, customer-focused strategy supported by unrivalled data and analytics capabilities has enabled Majid Al Futtaim to deliver sustained growth through H1 2022. Our efforts have been further amplified by MENA’s steady progress in moving beyond post-pandemic recovery as we collectively turn our efforts toward economic expansion and regional prosperity.”