Shuaa Capital posts 10-year high Q1 net profit
DUBAI, 5 days
ago
Shuaa Capital, a leading asset management platform, has achieved a 10-year record in quarterly profits, with net profit attributable to shareholders for Q1 2021, of AED25 million ($6.8 million) compared with AED262 million net loss attributable to shareholders in Q1 2020.
The company’s operating income increased 132% year-on-year from AED19 million in Q1 2020 to AED45 million in Q1 2021. EBITDA generation also remained strong, at AED75 million for Q1 2021 compared with a negative EBITDA of AED202 million in Q1 2020, up AED277 million year-on-year.
Furthermore, revenues saw an increase to AED102 million in Q1 2021 compared with AED72 million in Q1 2020, up 42% year-on-year driven by our recurring business which continues to trend above the average of the last four quarters, despite Q1 traditionally being Shuaa's quietest quarter.