PROFIT SURGE FOR MIDDLE EAST ENTERTAINMENTS OPERATOR

A major surge in profits has been reported by Majid Al Futtaim Holding, the parent company of the major entertainments operator in the Middle East. MAF operates shopping malls across the Middle East, has widespread interests in retail and hotels and has an entertainment chain that includes Ski Dubai, a wide range of Magic Planet FECs across the region, a water park, Lego stores, a ski attraction in Egypt, iFly Dubai, Snow Abu Dhabi, Orbi Dubai, the chain of Little Explorers children’s attractions and the VOX cinema chain. The group’s revenues and profits soared in the first half of the current financial year with net profits up by 74 per cent to US$463m while revenue was up five per cent to AED18.9bn ($5.1bn). Source: Intergame