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  • 03-02-13

    UAE- Waha Capital's 2012 net profit climbs 38.1%

    (MENAFN) Waha Capital's Chairman, Hussain Jasim Al Nowais, stated that the diversified investment firm's net profit leaped by 38.1 percent last year to USD58.37 million, reported Emirates 24/7. Al Nowais attributed the strong results to the excellent performance from the company's investee firms, including aircraft leasing firm Aercap and Dunia Finance. He said that the Abu Dhabi-based firm's operating income jumped by 21.1 percent to USD126.37 million, up from USD105.21 million a year before. Meanwhile, the value of the company's assets stood at USD1.20 billion as of December 31, 2012, up from USD1.14 billion in the previous year. The chairman noted that Aercap was a key driver of Waha's earnings in 2012, as the UAE firm raised its stake in the New York-listed company to 26.3 percent from 21.3 percent. As for the fourth quarter of 2012, Waha's net profit increased to USD49.94 million, compared with USD25.30 million in 2011's same period. The company attributed the quarterly growth to Waha's share of profit from its interest in aviation investee firms.

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