Majid Al Futtaim, the company behind the Magic Planet chain of family entertainment centres, reported an 11 per cent increase in group revenue in 2014.
The company operates 13 shopping malls and 11 hotels in the Middle East and north Africa, as well as 58 hypermarkets and 69 supermarkets. Its Magic Planet chain now numbers 17 locations.
Group revenue rose to AED25bn ($6.8bn) last year, while EBITDA increased 10 per cent year-on-year to AED3.6bn.
“The company’s financial strength and operational expansion in our home market of the UAE, as well as across the wider Middle East and north Africa, has delivered strong financial performance across all areas of the business,” said Alain Bejjani.
The company’s growth remained stable, he said, as the company pursues its ambition of “doubling the size of the business in the next five years.”
“We strengthened our assets and competitive position by continuing to execute on our vision to ‘create great moments for everyone every day,’ developing exciting new destinations and bringing new experiences to new populations.”
