(MENAFN) Majid Al Futtaim Holding (MAF) CEO, Iyad Malas, stated that the firm's earnings before interests and taxes rose 7 percent to USD816 million, reported Gulf News.
Malas said that revenues for 2012 grew 10 percent from a year earlier to USD5.87 billion.
He noted that 50 percent of the company's total revenue came from its UAE business, moreover, 80 percent of total revenue was generated from its Carrefour franchise, and the remaining 20 percent from hotels and malls.
Meanwhile, MAF Retail forecasts to launch 11 new Carrefour hypermarkets and 27 new supermarkets during the current year, in addition to its 11 malls already established in the region.
It is worth noting that MAF is also mulling land plots in Abu Dhabi and Riyadh, as it plans to establish shopping malls in the two cities.
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