SHUAA Capital psc (DFM: SHUAA), the leading asset management and investment banking platform in the region, has announced its Q1 2023 financial results. Net profit attributable to shareholders was AED 15 million, up 60% compared to Q4 2022.
Group Financial Highlights
|Income Statement||Q1 2023||Q4 2022||% QoQ|
|Revenues||AED 59.7m||AED 59.3m||+1% ⇧|
|Expenses||(AED 31.9m)||(AED 52.8m)||(40%)⇧|
|Net Profit||AED 14.7m||AED 9.2m||+60% ⇧|
|Key metrics||Q1 2023||Q4 2022||% QoQ|
Key financial review
Delivering on our strategic priorities
SHUAA’s mission is to create sustainable value for clients, employees and shareholders by engineering innovative investment solutions and differentiated product offerings for institutional clients and high-net-worth individuals. The move towards simplifying our balance sheet has reduced volatility of earnings and allows the team to deliver on recurring revenues and shareholder returns.
“Our first quarter results demonstrate continued progress against SHUAA’s focused strategy to deconsolidate and diversify while delivering strong operating income and sustainable returns to our investors and shareholders,” said Fawad Tariq Khan, Group Chief Executive Officer of SHUAA Capital. “We continue to remain resilient and look forward to providing our clients with unparalleled investment offerings at accretive returns. SHUAA’s long track record of delivering best-in-class services speaks for itself, and we will continue to exceed expectations as we pursue new opportunities and expand our horizons.”