Abu Dhabi's Waha Capital Q3 profit soars fourfold

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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.”

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