Shuaa Capital profits of 59 million dirhams during the third quarter


Dubai – direct: Net soared Shuaa Capital Company Listed on the Dubai Financial Market by 172 percent at the end of the third quarter of 2020 year on year.

According to a statement from the company to the Stock Exchange, the net profit of the third quarter reached 59 million dirhams, compared to 21.7 million dirhams in the same period last year.

The net profit before interest, taxes, depreciation and amortization amounted to AED 114 million.

The group reported a percent increase in the value of assets under management, on a quarterly basis, to $ 13.6 billion.

The Group witnessed continued strong earnings before interest, taxes, depreciation and amortization, which amounted to 114 million dirhams for the third quarter of 2020.

Shuaa achieved 55 percent of the target annual rate to be achieved by the end of 2021, which was raised, as Shuaa achieved 30 million dirhams out of the target rate, which was raised to 55 million dirhams..

It reduced the non-core assets unit by 39 percent from July 2019 to date. As it continues to seek to close the unit by the end of 2021.

Shuaa Capital announced earlier that Its net profit for the first half of this year amounted to 164 million dirhams.

The share of Shuaa Capital ended its trading today on the Dubai Stock Exchange, up 3 percent, to 0.62 dirhams, after 670,730 shares were traded at a value of 404,874 thousand dirhams.


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