Sheikh Maktoum Hasher Al Maktoum,
executive chairman of Shuaa Capital
Shuaa swings to small profit in Q2
Dubai, August 6, 2013
Shuaa Capital, the Dubai-based investment bank, eked out a small profit in the second-quarter helped by growth in its asset management and lending business.
Shuaa, which has laid off staff since 2011 to cut costs, made a net profit of 1.3 million dirhams ($353,900) in the quarter, compared with a loss of 15.9 million dirhams for the same period last year, it said in a bourse statement on Tuesday.
Quarterly revenues rose 95 percent to 43.4 million dirhams, Shuaa said. - Reuters