Shuaa posts 10% fall in net profit

by Ulf Laessing Tuesday, 05 August 2008

Dubai-based investment bank Shuaa Capital PSC posted an 10 percent fall in net profit in the first quarter of its fiscal year.

Related Stories

While operating income was up 21 percent, net profit in the three months to June 30 fell to 67.1 million dirhams ($18 million) compared to 74.5 million dirhams ($20 million) in the same quarter a year ago, Shuaa, UAE's biggest investment bank, said in a statement on Tuesday.
Iyad Duwaji, Chief Executive Officer of SHUAA Capital said: “I am pleased with our overall performance given difficult market conditions regionally and globally.

"We remain confident that fiscal 2008 will be another successful year for SHUAA Capital. Although the performance during the first quarter partially reflected the poor performance and unusual volatility in capital markets, our annuity fee business generated the second strongest quarter in the company’s history.”

SHUAA Capital’s total client’s funds under management increased by 110.6 percent to 15.6 billion dirhams ($4.08 billion) year on year. (Reuters)



Search Property (2052 listed)



Enter a Development, City, Real Estate Agent or Developer name
Property Type
Added to Site
Price Range
to
Bedrooms
Area (in sqft)
to
to

Quick Links(Residental)