10 Feb 2013
(MENAFN) Dubai-based investment firm Shuaa Capital reported narrower quarterly loss on lower costs after restructuring, Bloomberg reported.
The company said it booked USD5.6 million net loss during the last quarter of 2012, lower than a USD30.48 million loss a year earlier.
Shuaa said it managed to cut costs by 72 percent to USD10.67 million during the restructuring process in the quarter.
The company also reported a 25 percent increase in quarterly revenue to USD6.86 million compared to a year ago.
Total assets fell to USD381.06 million at the end of 2012 from USD435.5 million in 2011.
Shuaa was hardly hit in the wake of the global financial crisis in 2008 which led to a drop in volume on local stock markets.
It has completed a restructuring program to reduce non-core assets, cut jobs and generate recurring revenue.
The company stopped offering retail brokerage and said in October it plans to boost lending to small and medium-sized businesses and high-net-worth individuals to improve profit margins.
13 Apr 2026
BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more