Shuaa Capital annual loss widens to $80m
Dubai, February 13, 2012
Shuaa Capital, which has been hit by slumping global markets, reported a wider 2011 loss on Monday as the investment bank booked provisions and one-off charges.
Shuaa said it had a net loss of 293.8 million dirhams ($80 million)for 2011, compared to a net loss of 223.7 million dirhams a year earlier.
Total revenue for 2011 was 99.2 million dirhams, down from 188.4 million dirhams in 2010. Shuaa said it took provisions and one-off charges of 136.3 million dirhams in 2011. - Reuters