Dubai – Mubasher: Shuaa Capital has achieved net profits of AED 63.59 million in the first nine months of 2020, when compared to the year-ago period.

The company's net interest income increased to AED 10.34 million in the January-September period of 2020 from AED 5.5 million in the same period of 2019, according to the company's consolidated interim financials for the period ended on 30 September 2020.

The earnings per share (EPS) settled at AED 0.025 in the first nine months of 2020, versus AED 0.02 in the corresponding period of the earlier year.

During the third quarter (Q3) of 2020, the company's net profits jumped to AED 58.67 million from AED 21.749 million in the same quarter of 2019

The company's earnings before interest, tax, depreciation, and amortisation (EBITDA) amounted to AED 114 million in Q3-20.

Commenting on the company's performance, the CEO of Shuaa Capital, Jassim Alseddiqi, said: "With a resilient business model in place and a clear strategy to achieve long-term sustainable growth, SHUAA has continued to achieve significant progress in Q3-2020."

It is noteworthy to mention that in the first half (H1) of 2020, the company's net profits excluding unrealised mark-to-market losses on portfolio investments reached AED 164 million, compared to the same period of 2019.