Abu Dhabi's Waha Capital Q3 profit soars fourfold

  • Share via facebook
  • Tweet this
  • Bookmark and Share
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!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Coming to America

Coming to America

As Barack Obama seeks to rebalance the bloated US economy, the...

Should the Gulf introduce VAT?

Should the Gulf introduce VAT?

The GCC’s plans to bring in value-added tax were withdrawn as...

5
Why are some of the world's biggest banks leaving the UAE?

Why are some of the world's biggest banks leaving the UAE?

Large Western banks have been selling off their local assets...

2
Most Discussed
  • 10
    Nakheel PR: The toughest job in Dubai?

    On service charges.

    We were overcharged for years by Nakheel so that those loans could be paid back.

    The dramatic cuts have come to nothing... more

    Friday, 27 March 2015 7:32 PM - Pondersome George
  • 10
    Has Narendra Modi already lost the plot?

    Modi was elected just because the earlier govt was corruption ridden and a mess.Add to it their insistence on rahul Gandhi leading who is nothing but a... more

    Friday, 27 March 2015 7:33 PM - Charles
  • 5
    Drunk passenger who slapped air stewardess jailed in Dubai

    I agree that a charge for alcohol may help but it doesn't necessarily prevent the wealthy from drinking and acting irresponsibly - particularly as with... more

    Friday, 27 March 2015 7:31 PM - Doug