Dubai: Shuaa Capital said on Monday it has appointed Fawad Tariq Khan as the new general manager, effective from June 1.

Khan will replace Houssem Ben Haj Amor, who previously held this position.

Shuaa Capital reported a net profit of Dh24.8 million, the division’s first profitable quarter since third quarter 2015, after reporting a loss of Dh17.1 million in the same quarter last year. Revenues for the period declined to Dh20.1 million.

Shuaa Capital closed more than 1 per cent lower at Dh1.43.