SHUAA return to profit in second quarter - Business Intelligence Middle East - bi-me.com - News, analysis, reports:
"SHUAA returned to profit in Q2 2013, driven by revenue growth in asset management, investment banking and lending divisions and higher fees, commissions and interest income.
Net Profit for Q2 2013 was AED 1.3 million, up from loss of AED 5.9 million in Q1 2013 and loss of AED 15.9 million in Q2 2012 respectively. SHUAA’s strategy of implementing a financial, strategic and operational turnaround has succeeded in turning a profit for the first time in two years.
It also places the second quarter’s earnings in line with the Company’s expectations and earlier earnings guidance."
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