Dubai, Sept. 2 -- Majid Al Futtaim, said its overall group revenue increased by 1% to AED17.9 billion, despite challenging market conditions and more cost-conscious consumer behaviour across the region.

EBITDA increased by 1%, standing at AED2.1 billion, while the group's increased focus on working capital management and operational excellence resulted in operating cashflow amounting to 115% of EBITDA. The group's assets increased 7% to approximately AED64 billion, on account of the introduction of IFRS16. Net borrowings stand at around AED12.8 billion.

Majid Al Futtaim's financial results during H1 2019 were enabled by maintaining strong financial discipline across its portfolio. In its efforts to meet the evolving needs and demands of...