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FINANCIAL NEWS
Shuaa Capital registers sharp drop of Q2 net profit
11 Aug 2015
(MENAFN) UAE Shuaa Capital recorded a 72 percent decline in its second quarter net profit, in spite of a slight increase of revenue to USD16.2 million compared to USD14.1 million last year.
First half’s net profit showed a significance drop to USD27 thousand compared to USD3.9 million in 2014. But Shuaa insists on its solid liquidity position with total assets of USD490 million till June 2015.
“Although general market sentiment has remained subdued due to macroeconomic and geopolitical issues, we are encouraged by a number of positive developments within the business,” Chairman said.
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