Dubai's Shuaa Capital swings to Q1 profit

  • Share via facebook
  • Tweet this
  • Bookmark and Share
Sheikh Maktoum Hasher Al Maktoum, Executive Chairman of Shuaa Capital.

Sheikh Maktoum Hasher Al Maktoum, Executive Chairman of Shuaa Capital.

Dubai's Shuaa Capital swung to a first-quarter profit, the investment bank said on Sunday, confirming preliminary figures released last month.

Shuaa made a profit of AED8.2m ($2.23m) in the three months to March 31, according to a bourse statement.

That compares with a loss of AED5.9m a year earlier.

HSBC forecast Shuaa would make a quarterly profit of AED3m.

The company's quarterly revenue was AED64.2m, up 77 percent from AED36.2m in the corresponding period of 2013.

"We are seeing an improved investment banking pipeline and a larger pool of companies wanting to go public, improving the possibility of more transactions being executed by Shuaa," Sheikh Maktoum Hasher Al Maktoum, executive chairman of Shuaa Capital, said in the statement.

Related:

Market Performance

SHUAA Capital - UAE
0.695
-0.0050 -0.71 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Should the Gulf introduce VAT?

Should the Gulf introduce VAT?

The GCC’s plans to bring in value-added tax were withdrawn as...

3
Why are some of the world's biggest banks leaving the UAE?

Why are some of the world's biggest banks leaving the UAE?

Large Western banks have been selling off their local assets...

2
How Gulf banks are helping to underwrite region's aviation boom

How Gulf banks are helping to underwrite region's aviation boom

Figures from Airbus show that 47% of MidEast aircraft deals in...

2
Most Popular
Most Discussed