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.

NOTE: Comments posted on arabianbusiness.com may be printed in the magazine Arabian Business

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
First bank merger in 20 years sets Saudi Arabia up for more deals

First bank merger in 20 years sets Saudi Arabia up for more deals

Q&A look at what the planned merger of HSBC and RBS’s Saudi ventures...

A natural move: How Dubai Chamber is strengthening its ties in Latin America

A natural move: How Dubai Chamber is strengthening its ties in Latin America

With vast resources and more than half-a-billion people, the...

If Saudi future's so bright, why can't these banks find buyers?

If Saudi future's so bright, why can't these banks find buyers?

No big-name global banks eager to buy stakes in Saudi banks,...

Most Discussed
sponsoredTracking