Marka (MARKA.DU) posted KPIs for 1Q2016, with a net loss of AED18.2mn compared to AED8.4mn in losses in the same quarter last year. Revenue surged to AED75.7mn versus AED0.4mn in 1Q15. Meanwhile, gross profit for the quarter came in at AED36.7mn, while gross margin shrank 6.7pp to 48.4%. Net operating losses widened 20% Y-o-Y to AED12.7mn as SG&A expenses surged nearly fivefold. In 2016, the company is planning to open four new Reem Al Bawadi restaurants, three new Cheeky Monkeys Playland & Sweet Surprises outlets, and a Modell’s Outlet in Al Ain. Outside of the UAE, Marka plans to launch Morelli’s Gelato ice cream, fashion brands City Chic and Weill, and jewelry house dinh van in Qatar in 3Q16, as well as an announcement of an agreement to launch ten franchised outlets of Cheeky Monkeys in Saudi Arabia over the next five years. Marka operates 50 outlets and is planning to double this number over the next two years. (Company disclosure)