Marka reports loss of Dh13m, but expects return to profit this year



The retail group Marka has reported a loss of Dh13.6 million for the fourth quarter of last year, ahead of the start of operations this year.

The company expects to return to profit by the end of this year via a series of start-ups and acquisitions, its chief executive Nick Peel said last month.

Marka acquired Dubai World's retail unit Retailcorp UAE in late December from Istithmar for Dh220m. The purchase of the company, which was not reflected in the quarterly results, gives Marka ownership of 15 sports shops in malls across the UAE, with rights to sell brands that include Nike, Reebok and adidas.

Marka, which was incorporated last June, aims to expand the network of the sporting goods outlets, under the brand name of Modell’s Sporting Goods in the UAE and across the region.

The company last month announced plans to open a Champions League Experience concept shop in Abu Dhabi’s Yas Mall in May, with plans to grow the concept across the GCC and beyond in the near term.

The company last year became the first entity to list on the Dubai Financial Market in five years. Its shares closed yesterday down 2.14 per cent at Dh1.37 each.

jeverington@thenational.ae

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The Lost Letters of William Woolf
Helen Cullen, Graydon House 

What is Dungeons & Dragons?

Dungeons & Dragons began as an interactive game which would be set up on a table in 1974. One player takes on the role of dungeon master, who directs the game, while the other players each portray a character, determining its species, occupation and moral and ethical outlook. They can choose the character’s abilities, such as strength, constitution, dexterity, intelligence, wisdom and charisma. In layman’s terms, the winner is the one who amasses the highest score.

COMPANY PROFILE

Company name: Supy
Started: 2021
Founders: Dani El-Zein, Yazeed bin Busayyis, Ibrahim Bou Ncoula
Based: Dubai
Industry: Food and beverage, tech, hospitality software, Saas
Funding size: Bootstrapped for six months; pre-seed round of $1.5 million; seed round of $8 million
Investors: Beco Capital, Cotu Ventures, Valia Ventures and Global Ventures

UAE currency: the story behind the money in your pockets
COMPANY PROFILE

Company name: Terra
Started: 2021
Based: Dubai
Founder: Hussam Zammar
Sector: Mobility
Investment stage: Pre-seed funding of $1 million

COMPANY PROFILE

Company: Eco Way
Started: December 2023
Founder: Ivan Kroshnyi
Based: Dubai, UAE
Industry: Electric vehicles
Investors: Bootstrapped with undisclosed funding. Looking to raise funds from outside

EMIRATES'S REVISED A350 DEPLOYMENT SCHEDULE

Edinburgh: November 4 (unchanged)

Bahrain: November 15 (from September 15); second daily service from January 1

Kuwait: November 15 (from September 16)

Mumbai: January 1 (from October 27)

Ahmedabad: January 1 (from October 27)

Colombo: January 2 (from January 1)

Muscat: March 1 (from December 1)

Lyon: March 1 (from December 1)

Bologna: March 1 (from December 1)

Source: Emirates

Tips for job-seekers
  • Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
  • Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.

David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East

‘White Elephant’

Director: Jesse V Johnson
Stars: Michael Rooker, Bruce Willis, John Malkovich, Olga Kurylenko
Rating: 3/5

Essentials

The flights

Emirates and Etihad fly direct from the UAE to Geneva from Dh2,845 return, including taxes. The flight takes 6 hours. 

The package

Clinique La Prairie offers a variety of programmes. A six-night Master Detox costs from 14,900 Swiss francs (Dh57,655), including all food, accommodation and a set schedule of medical consultations and spa treatments.

The specs: 2018 Nissan Patrol Nismo

Price: base / as tested: Dh382,000

Engine: 5.6-litre V8

Gearbox: Seven-speed automatic

Power: 428hp @ 5,800rpm

Torque: 560Nm @ 3,600rpm

Fuel economy, combined: 12.7L / 100km

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Company profile

Company: POPC
Started: 2022
Founders: Amna Aijaz, Haroon Tahir and Arafat Ali Khan
Based: Dubai, UAE
Industry: art and e-commerce
Funds raised: undisclosed amount raised through Waverider Entertainment

MEDIEVIL (1998)

Developer: SCE Studio Cambridge
Publisher: Sony Computer Entertainment
Console: PlayStation, PlayStation 4 and 5
Rating: 3.5/5

SPECS

Engine: Two-litre four-cylinder turbo
Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
On sale: Now

The Specs

Engine: 1.6-litre 4-cylinder petrol
Power: 118hp
Torque: 149Nm
Transmission: Six-speed automatic
Price: From Dh61,500
On sale: Now

RESULTS

Mumbai Indians 181-4 (20 ovs)
Kolkata Knight Riders 168-6 (20ovs)

Mumbai won by 13 runs

Rajasthan Royals 152-9 (20 ovs)
Kings XI Punjab 155-4 (18.4 ovs)

Kings XI Punjab won by 6 wickets

A little about CVRL

Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.

One of its main goals is to provide permanent treatment solutions for veterinary related diseases. 

The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery. 

Company Profile

Company name: Cargoz
Date started: January 2022
Founders: Premlal Pullisserry and Lijo Antony
Based: Dubai
Number of staff: 30
Investment stage: Seed

COMPANY PROFILE

Company name: Sav
Started: 2021
Founder: Purvi Munot
Based: Dubai
Industry: FinTech
Funding: $750,000 as of March 2023
Investors: Angel investors

Sunday's games

Liverpool v West Ham United, 4.30pm (UAE)
Southampton v Burnley, 4.30pm
Arsenal v Manchester City, 7pm

Key features of new policy

Pupils to learn coding and other vocational skills from Grade 6

Exams to test critical thinking and application of knowledge

A new National Assessment Centre, PARAKH (Performance, Assessment, Review and Analysis for Holistic Development) will form the standard for schools

Schools to implement online system to encouraging transparency and accountability

THE DETAILS

Deadpool 2

Dir: David Leitch

Starring: Ryan Reynolds, Josh Brolin, Justin Dennison, Zazie Beetz

Four stars

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This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.