Net profit attributable to shareholders is at its highest level in 10 years
Shuaa Capital’s revenue of 102 million dirhams in 3 months
The company's main operating platforms recorded strong performance during the first quarter.
Shuaa Capital announced yesterday its financial results for the first quarter of this year, as it succeeded in achieving the highest levels of net profit attributable to shareholders during the past 10 years by 25 million dirhams for the first quarter of 2021, compared with the net loss attributable to shareholders by 262 One million dirhams in the first quarter of 2020, while revenues increased to 102 million dirhams compared to 72 million dirhams during the first quarter of last year, an increase of 42% year-on-year, driven by recurring revenues and exceeding the average rate of revenues for the past four quarters.
The company stated, in a statement, that operating revenues witnessed an increase of 132% on an annual basis from 19 million dirhams in the first quarter of 2020 to 45 million dirhams in the same period of this year.
The Group's quarterly profits before interest, taxes, depreciation and depreciation reached 75 million dirhams for the first quarter of 2021, compared to 202 million dirhams in the first quarter of 2020, an increase of 277 million dirhams on an annual basis.
The company's main operating platforms recorded a strong performance, as the asset management sector achieved record profits despite the slight decrease in the value of assets under management to $ 13.9 billion, compared to record levels of $ 14.1 billion at the end of the fiscal year 2020, due to the exit from low-profit activities.
In return, the company continued to go ahead with building the newly launched new fund business.
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