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Brokerage- The business recorded revenues of AED8.1 m in

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Press Trust of India
the year under review (FY2011: AED19.9 m) and a net profit of AED0.3 m (FY2011: loss of AED129.9 m). In Q4, revenues were AED0.6 m (Q4 2011: AED2.6 m) and the division recorded a loss of AED2.3 m (Q4 2011: loss of AED86.9 m). Due to the exit from the retail brokerage business, total expenses related to brokerage fell 95% to AED7.8 m from AED152.6 m in FY2011. SHUAA expects to close down retail brokerage in the first half of 2013. Corporate- The corporate centre recorded full year revenues of AED24.4 m (FY2011: negative revenues of AED12.4 m) and an overall loss of AED62.7 m (FY2011: loss of AED178.1 m). In Q4, revenues were negative AED1.4 m (Q4 2011: negative revenues of AED7.7 m) and the division recorded a loss of AED19.0 m (Q4 2011: loss of AED30.6 m). Headcount at the end of 2012 was 200 compared to 282 at the year-end 2011. Cautionary Statement Regarding Forward-Looking Information: This document contains forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Forward-looking statements can be identified by words such as: "anticipate," "aspire," "intend," "plan," "goal," "objective," "seek," "believe," "project," "estimate," "expect," "forecast," "strategy," "target," "trend," "future," "likely," "may," "should," "will" and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding: Expected operating results, such as revenue growth and earnings. Anticipated levels of expenditures and uses of capital. Current or future volatility in the capital and credit markets and future market conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: Our ability to maintain adequate revenue levels and cost control; economic and financial conditions in the global markets and regional markets in which we operate, including volatility in interest rates, commodity and equity prices and the value of assets; the implementation of our strategic initiatives, including our ability to effectively manage the redeployment of our balance sheet and the expansion of our strategic businesses; the reliability of our risk management policies, procedures and methods; continued volatility in the capital or credit markets; geopolitical events; developments and changes in laws and regulations, including increased regulation of the financial services industry through legislative action and revised rules and standards applied by our regulators. Any forward-looking statement made by us in this document and presentation is based only on information currently available to us and speaks only as of the date on which it is made. No representation or warranty, express or implied, is made as to the accuracy, completeness or fairness of the information and opinions contained in this document. We undertake no obligation to publicly update any forward-looking statement whether as a result of new information, future developments or otherwise. SHUAA Capital psc ('SHUAA') offers client-centric, fully integrated financial services. SHUAA, headquartered in Dubai, United Arab Emirates, services corporate and institutional clients as well as family businesses and high-net-worth-individuals with expertise in the areas of asset management, investment banking advisory services, capital markets and credit. SHUAA was established in 1979 by Emiri decree No. 6. SHUAA is a public shareholding company, regulated as a financial investment company by the UAE Central Bank, and its stocks are listed on the Dubai Financial Market. Http://www.Shuaa.Com For further information please contact: Oliver Schutzmann, Head of Investor Relations & Corporate Communications. Tel: +971-4-319-9872, Mobile: +971-50-640-5722, oschutzmann@shuaa.Com. SOURCE: SHUAA Capital plc. PRNEWSWIRE/ASIANET VSS 02111736 NNNN
 

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First Published: Feb 11 2013 | 5:45 PM IST

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