Shuaa Capital posts highest H1 proft since 2009
Originally published in Trade Arabia (link below)
Shuaa Capital, a leading integrated financial services firm in the region, today announced its highest half-yearly profit since 2009 for the first half of this year.
For the six months ending June 30, 2017, the firm reported a net profit of Dh36.8 million ($10.02 million), compared to losses in the corresponding period of last year of Dh78.3 million.
Delivering its second consecutive profitable quarter, SHUAA Capital reported a 124 per cent increase in net profit for the second quarter of 2017, reaching Dh12.1 million (Q2 2016: net loss of Dh50.8 million), with the continued swing back to profitability driven by proprietary investments, advisory transactions and management fees of real estate funds.