SHUAA Third Quarter 2012 Results Confirm Financial and Strategic Trend

SHUAA Third Quarter 2012 Results Confirm Financial and Strategic Trend PR Newswire DUBAI, UAE, November 12, 2012 DUBAI, UAE, November 12, 2012 /PRNewswire/ -- 3Q 2012 highlights: 3Q12 Revenues up 114% to AED 34.9 million from AED 16.3 million in 3Q11, mainly due to increases in interest income and the positive performance of SHUAA managed Funds Major operational improvement with 3Q12 Net Loss of only AED 13.9 million compared to a net loss of AED 156.2 million in 3Q11; in line with FY 2012e market guidance. 48% reduction of Total Expenses to AED 48 million, compared to AED 93 million in 3Q11 [*]3Q12 Operating Expenses down 20% to AED 46.7 million from AED 58.7 million in 3Q11 http://photos.prnewswire.com/prnh/20121006/567409-a http://photos.prnewswire.com/prnh/20121112/573854 9M 2012 interim results: Revenues rose 42% to AED 112.1 million from AED 79.2 million in 9M 2011 Net Loss reduced by 79% to AED 37.6 million from AED 181.9 million in 9M 2011 Total Expenses down 28% to AED 160.1 million from AED 223.0 million in 9M 2011 Balance Sheet Strong Balance Sheet with Total Assets of AED 1.4 billion, down 11% compared to Dec 2011 Cash and Deposits with Banks of AED 343.6 million, up 1% compared to Dec 2011 Liabilities reduced to AED 298.1 million, down 32% compared to Dec 2011 Bank Debt down to AED 158.9 million, down 42%compared to Dec 2011 Cash net of Debt is up 187% to AED 184.7 million from AED 64.3 million in Dec 2011 SHUAA today reported 3Q revenues of AED 34.