Dubai – Mubasher: SHUAA Capital on Tuesday announced turning a profit in the first quarter of 2017 against losses in the same period in 2016.
The investment firm reported AED 24.78 million ($6.75 million) in Q1-17 against AED 27.51 million ($7.49 million) in the year-ago period, according to a filing to the Dubai Financial Market (DFM).
Meanwhile, the company reported AED 31.787 million in revenues in Q1-17, down from AED 45.468 million in the corresponding period of 2016, whereas operating profit stood at AED 4.51 million in Q1-17, against AED 31.48 million in operating losses in Q1-16.
Total assets reached AED 1.29 billion by the end of the first three months of 2017, down from AED 1.3 billion by the end of 2016.
SHUAA previously reported a 30.4% decline in its profits for the full-year 2016 to AED 132.4 million compared to AED 190.25 million in 2015.
