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Mon 13 Oct 2014 11:12 AM

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Dubai's Shuaa Capital Q3 net profit jumps six-fold

Net profit rose to $7.13m, as revenue rose 31%

Dubai's Shuaa Capital Q3 net profit jumps six-fold
Sheikh Maktoum Hasher Al Maktoum, Executive Chairman of Shuaa Capital.

Dubai's Shuaa Capital third-quarter net profit increased six-fold due to improved performance from its asset management and investment banking businesses, it said in a statement on Monday.

Net profit in the three months ending September 30 jumped to AED26.2 million ($7.13 million), compared to AED3.6 million in the same period a year ago.

The company attributed the growth to an increased level of activity in asset management, investment banking, capital markets and lending.

Shuaa made AED71.8 million in revenues for the third quarter, a 31.1 percent increase compared to the year-ago period.

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