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Shuaa Capital posts Q3 net loss of AED259 million

Dubai-based investment firm Shuaa Capital posted a net loss of AED259 million for the third quarter, down 40.9 percent...

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November 1, 2009 1:34 by



Dubai-based investment firm Shuaa Capital posted a net loss of AED259 million for the third quarter, down 40.9 percent compared to the same period last year due to higher profits from the company’s operations in Saudi Arabia.

“While challenging market conditions persisted and reduced business activity over the summer months weighed on our results this quarter, we are seeing improved performance across our fee generating businesses,” said chairman Majid Al Ghurair.

Shuaa Capital has hired consultancy firm Bain & Company to help restructure its businesses.



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