The semi-annual profits of Majid Al Futtaim Group increased by 2% to reach one billion and 600 million dirhams.
According to Arabiya Net, this came despite a 10% decline in revenues to the group recording 15 billion and 600 million dirhams.
The company stated that online sales of the Carrefour supermarket chain rose by 25%, with orders increasing by more than 50% in the first half of the year, compared to the same period last year. .
In an interview with Al Arabiya, Alain Bejjani, CEO of Majid Al Futtaim Holding Group, said that the semi-annual results indicate growth in most of the company's business, pointing to a natural correction in Consumer products sector as a result of the return of the normal consumption pattern after the large purchase movement that occurred during the pandemic last year, expecting continued improvement during the current and next years.
He expected a gradual recovery, saying that things would return to the way they were before 2019, although some risks remain.
On the growth in the Saudi market, Bejjani stressed the importance of Majid Al Futtaim's investments in the Kingdom, pointing to the imminent start of work in the Riyadh Mall in November, which is one of the projects The core investment value is around $4 billion, which comes after the opening of City Center Al Zahia in the first half and is the largest in the Northern Emirates and the newest in the UAE.
He added: Nothing is delaying us from implementing our projects in the Kingdom.
He added that the company is preparing to open the Mall of Oman on September 1, which will be the largest in the capital, Muscat.
On the other hand, Bejjani pointed out that the way shopping has changed with the start of e-commerce taking over a larger share.
