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Shuaa Capital posts 10-year high Q1 net profit


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. ....

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Shuaa Capital's board recommends Dh76m dividend for 2020


Net interest income also rose during the reporting period, while provision for impairment losses on financial instruments fell to Dh4.8m from Dh22m in the previous year.
Last year, Shuaa also led a funding round for music streaming platform Anghami, which is set to become the first technology firm from the Middle East region to list on the Nasdaq in New York, following a merger with a blank-cheque company.
“The investment is aligned with Shuaa’s investment criteria and interest in pursuing investments in the technology space but also supports its aim of creating significant value for its investors,” Shuaa Capital said. ....

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