Abu Dhabi's Waha Capital Q3 profit soars fourfold

The investment firm said income from its portfolio companies, which include New York-listed AerCap Holdings, rose more than 70%

Waha Capital CEO Salem Rashid Al Noaimi.

Waha Capital CEO Salem Rashid Al Noaimi.

Waha Capital, an Abu Dhabi-based investment firm, posted a near fourfold increase in its third-quarter profit as income from its portfolio companies increased sharply.

Waha posted a quarterly profit of AED107.1m ($29.2m), compared with AED27.5m for the year-ago period, it said in a bourse statement on Monday.

The investment firm said income from its portfolio companies, which include New York-listed AerCap Holdings , rose to AED84.9m during the quarter from AED49.5m for the same period last year.

Salem Rashid Al Noaimi, CEO and managing director, said: “Our portfolio companies, and especially AerCap, are delivering excellent returns, justifying our long-standing faith in our investments. Thanks to this solid platform, Waha Capital is now in a strong position to make further investments such as our recent acquisition of Anglo Arabian Healthcare, as well as deploying additional capital in investee companies.”

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Accounting meets religion in challenge for Islamic banks

Accounting meets religion in challenge for Islamic banks

Reconciling accounting standards and religious principles is...

Banking on reforms in Kuwait

Banking on reforms in Kuwait

As Kuwait stares down its first deficit in 20 years, the Gulf...

Saudis face dilemma between size and pricing in debut bond sale

Saudis face dilemma between size and pricing in debut bond sale

Riyadh is under pressure to maximise the size of its international...

Most Discussed
sponsoredTracking