Dubai – Mubasher: Shuaa Capital turned to net losses attributable to the shareholders worth AED 144.36 million in the first nine months (9M) of 2022, against net profits of AED 88.73 million in 9M-21.

The operating income amounted to AED 215.58 million in the January-September 2022 period, lower than AED 242.29 million in 9M-21, according to the income statements.

Additionally, the basic and diluted loss per share attributable to the equityholders stood at AED 0.06 in 9M-22, versus earnings per share (EPS) of AED 0.03 during the same period a year earlier.

In the third quarter (Q3) of 2022, the DFM-listed firm logged net profits attributable to the owners worth AED 19.94 million, down from AED 34.66 million in the year-ago period.

The operating income shrank to AED 67.89 million in Q3-22 from AED 71.18 million in Q3-21.

Meanwhile, the basic and diluted EPS attributable to the shareholders settled at AED 0.01 in Q3-22, unchanged from Q3-21.

Fawad Tariq Khan, Group CEO of Shuaa Capital, commented: "Despite the prolonged global market volatility, our core operating business remained resilient and delivered another strong set of recurring revenues across all business segments.”

Khan added: “We remain committed to providing pioneering investment solutions to our clients, as evidenced by the project completion of the Broadway and the increase in the number of managed funds our clients have access to with the recent addition of $220 million in new assets under management (AuM) to our discretionary portfolio management and funds in Q3-22.”

In January-June 2022, the UAE-based company shifted to net losses attributable to the equityholders worth AED 164.30 million, versus net profits of AED 54.06 million during the same period in 2021.