Dubai – Mubasher: Shuaa Capital's net profits excluding unrealised mark-to-market losses on portfolio investments reached AED 164 million in the January-June period of 2020 compared to the same period of 2019.
The company's earnings before interest, tax, depreciation, and amortization (EBITDA) reached AED 284 million in the first half (H1) of 2020, according to a press release on Wednesday.
The company's operating income increased by 19% quarter-on-quarter (QoQ) to AED 86 million in the second quarter (Q2) of 2020.
The CEO of Shuaa, Jassim Alseddiqi, said: "Whilst COVID-19 as well as the economic and geopolitical challenges will continue to impact overall business and market activity for some time, our business model is calibrated around seizing opportunities across economic cycles, geographies, and products."
It is noteworthy to mention that in 2019, the annual profits attributable to the owners of the company reached AED 46.813 million, compared to AED 53.236 million in 2018.
