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21 Established 1961 Business Monday, March 19, 2018 Mezzan Holding announces FY 2017 financial results; revenue KD 204.5m Board recommends a cash dividend of 22 fils per share with a total payout of KD 6.8m KUWAIT: Mezzan Holding KSC, one of the largest man- Mezzan Holding Executive Vice Chairman Mohammad Revenue), Catering (generating 14.4 percent of Group Revenue) and Industrials (generating 2.8 percent). ufacturers and distributors of food, beverage, FMCG and Jassim Al-Wazzan said: “2017 proved to be a challenging Revenue) and Services (generating 7.0 percent of Group Revenue reached KD50.3 million, a decrease of 3.3 per- pharmaceutical products in the Gulf, yesterday year; where Mezzan was faced with a number of one-off Revenue). Total Revenue for the Food Business Line cent compared with the same period in 2016. announced the company’s financial results for the year unanticipated challenges. However, we maintain our focus reached KD154.2 million, a slight decrease of 0.7 percent FMCG and Pharmaceuticals: FY Revenue decreased 2017. The company maintained its revenue performance on strengthening our regional presence with leading compared with the same period in 2016. by 3.7 percent. despite a challenging economic environment, a testament positions in each of the our categories. The year 2017 Industrials: FY Industrials revenues decreased by 0.4 to its defensive product offering and strong fundamen- witnessed the highest capital expenditure year on record, percent. tals. The year presented numerous unanticipated one-off and we expect these investments to grow our profitabili- Regional Business Highlights external factors that challenged profitability but also ty in 2018 and beyond.” Financial year In Kuwait: FY Revenue grew by 1.8 percent due to helped identify areas for further improvement. Garett Walsh, CEO of Mezzan Holding added steady performance as the local retail market returns to Despite those challenges, and on the back of a strong “Disruptions to our supply chain in Qatar and temporary net profit buoyancy. balance sheet and enhanced working capital position, halt of operations in Afghanistan ultimately dragged on In UAE: FY Revenue decreased by 12.7 percent due to Mezzan invested in value-add projects including capaci- our profitability in 2017. We have taken the necessary lower exports to Qatar and the impact of excise tax ty enhancements, value chain improvements, warehouse steps to recover from these external factors. We are con- KD 12.9 million introduced in October 2017. infrastructure, as well as branding all aimed at driving fident of our future, as our core business continues to In Qatar: FY Revenue grew by 3.2 percent driven by future growth and enhance efficiencies. prove its resilience, with our Food Manufacturing and resolving supply chain issues putting sales and profitabil- Distribution division showing modest topline growth ity back on track. despite the headwinds. Our capital spending added pro- In KSA: FY Revenue grew by 243.5 percent as FY 2017 Financial Highlights duction capacities in our core sectors, and others, will Manufacturing and Distribution: Revenue increased Mezzan continues to focus on gaining a foothold in the Revenue: KD204.5 million, down 1.4% enhance efficiencies going forward.” 1.0 percent. region’s largest consumer market. EBITDA: KD20.9 million, down 15.5% Catering: FY Revenue increased by 10.2 percent. In Jordan : FY Revenue decreased by 44.8 percent Underlying Net Profit: KD12.9 million, down 26.6% FY 2017 Financial Performance Review Services: FY Revenue declined by 25.7 percent. due to challenges to tenders driven business. Reported net profit attributable to equity holders Food Business Line: The Food Business Line account- Non-Food Business Line: The Non-Food Business In Afghanistan : FY Revenue decreased by 16.1 per- of the parent company: KD12.9 million, down 24.7% ed for 75.4 percent of Group Revenue. The Business Line Line accounted for 24.6 percent of Group Revenue. The cent as operations were suspended for three months. The comprises the following three divisions: Manufacturing Business Lines comprises FMCG and Pharmaceuticals situation was resolved in August and Distribution (generating 53.9 percent of Group business division (generating 21.8 percent of Group In Iraq : FY Revenue grew by 34.3 percent. TEC holds Malabar Group’s special event Mall of Travancore for employees to go on stream: to discuss Kerala CM to open THIRUVANANTHAPURAM: ‘Mall of future plans Travancore,’ the largest shopping mall of the capital city, is all set to open its doors to the people of Trivandrum, adding colors to their life. KUWAIT: The Touristic Enterprises This state-of-the-art mall is designed to give a Company (TEC) recently organized a world-class shopping experience and is posi- special event for its employees to discuss tioned as a preferred shopping destination. On the efforts currently underway to develop March 23rd, at 3 pm, Chief Minister Pinarayi the Company’s new strategy and future Vijayan will dedicate the Mall of Travancore to vision. The employee engagement forum the public. was held at Sheikh Jaber Al-Ahmad The genesis of setting up a mall under nitude, it was very important for us to get Cultural Centre, and was attended by Malabar Group was born in the year 2005. For our employees involved from the very members of TEC’s Board of Directors, its this, Malabar Group representatives had visited trains originate or pass through the the mall a true shopping destination. Around beginning in our strategy development senior management and employees from over 1,000 malls in India and abroad to learn Thiruvananthapuram railway station every day 300 brands including international brands like process. After all, they are the most inte- across the organization. and get a hand-on experience about the func- and almost one lakh people depend on it. Adidas, Allen Solly, Apple, Arrow, Baskin gral component in realizing our plans and At the event, TEC’s CEO, Abdulwahab tioning of malls. With this regards, a detailed Around one lakh people commute everyday Robbins, Bata, Delsey, Jockey, KFC, Life Style, translating our strategy into tangible Ahmed Al-Marzouq, discussed the devel- marketing study was conducted in Kerala. Based through the bus station operating more than Malabar Gold & Diamonds, Pantaloons, Park results.” opment of the Company’s new strategic on these studies, it was decided to set up a Mall 1,000 buses daily. This shows the dynamic Avenue, Louis Philippe, Titan, Van Heusen, VIP In line with the overall theme of strate- direction and its plan for the next few in Trivandrum District. In 2006, Malabar Group nature of the place. Trade is also very vibrant and Woodland will be available in more than gic planning and development, the event years. He also laid out TEC’s new vision had started the process of acquiring seven acres here. Business worth around Rs 40 crore is 160 showrooms within the mall. Besides, the also featured special guest speaker Dr. and corporate values, which are currently of land in Enjakkal near Thiruvananthapuram transacted here every day. Purchasing power of mall will also have showrooms of prominent Robert S. Kaplan, the renowned business being developed under the umbrella of the International Airport. The land acquisition was the people is also high here. These are the posi- retailers like Eham Digital, and Kalyan Silks. academic, best-selling author and Harvard Company’s strategy development exercise. completed by buying plots measuring from four tive factors that insisted Malabar Group to set Parking facility for around 1,000 cars and Business School professor. Dr. Kaplan, “We have been working with our global cents to 2 acres from 27 different landlords. The up the mall here. Compared to other districts, 1,200 two-wheelers at the same time is also presented a talk to the TEC employees in partners and consultants to put in place a management had decided to go green and to Thiruvananthapuram did not have a convenient available. Mall of Travancore is the result of attendance about strategies in the business comprehensive development strategy have a complete eco-friendly and nature friend- umbrella shopping center. Mall of Travancore meticulous planning and efforts of thousands of world, entitled: “Transformation: From focused on rejuvenating and upgrading the ly construction. The height of the mall was lim- will solve this problem. people including the management team. Strategy to Results”, where he addressed tourism and entertainments sectors in ited to three floors since the property is adja- Spread over 6.5 lakh sq ft in three floors, There are huge employment opportunity the importance of strategy development in Kuwait,” said Al-Marzouq. “Our plans are cent to Thiruvananthapuram International there are large collection of world class branded offered in Mall of Travancore. Currently, the the realm of business. robust and ambitious, and given their mag- Airport. On November 27, 2014 the then Chief items to offer. Along with shopping, there are mall will give direct employment for 2,000 peo- Minister Oommen Chandy laid the foundation facilities for entertainment within the Mall, both ple and indirect employment for 1,000 people. stone of the mall. for kids and grownups. A hypermarket offering Besides people from Kerala, people hailing It was after studying the peculiarities of products that fit the requirements of all kinds of from the nearby districts of Tamil Nadu such as Thiruvananthapuram, the management had people who can select products as per their Tirunelveli, Nagercoil, and Kanyakumari can decided to set the mall there. choice, a vast jewelry showroom to satisfy orna- easily reach and shop from Mall of Travancore. Thiruvananthapuram not only enjoys the spe- ment lovers, electronics and home appliances Malabar Developers, the real estate wing of cialty of being the capital city of the state and showroom, lifestyle products, gaming zone, food Malabar Group of Companies is behind the the headquarters of the government, but is plaza, seven multiplex theaters from carnival world class structure and has completed its known for its century old cultural heritage, and group and other entertainment facilities makes work in the given time.

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