Dubai – Mubasher: Shuaa Capital has turned to net losses attributable to the parent worth AED 164.30 million during the first half (H1) of 2022, against net profits of AED 54.06 million in H1-21.

In the first six months (6M) of 2022, the net operating revenues plummeted to AED 152.95 million from AED 176.29 million in the year-ago period, according to the income statements.

The basic and diluted loss per share attributable to the owners stood at AED 0.06 in H1-22, versus earnings per share (EPS) of AED 0.03 in H1-21.

During the second quarter (Q2) of 2022, the UAE-based firm registered net losses attributable to the parent worth AED 169.92 million, versus a net profit of AED 29.09 million in Q2-21.

Furthermore, the net operating revenues fell to AED 63.50 million in the April-June 2022 period, compared to AED 74.14 million during the same period a year earlier.

The basic and diluted loss per share attributable to the owners settled at AED 0.07 in Q2-22, compared to EPS of AED 0.02 in Q2-21.

Last year, Shuaa Capital generated AED 24.23 million in net profit attributable to the parent, down 81% from AED 125.26 million in 2020.