Business | Banking
Waha Capital's revenue increases to Dh272m
Abu Dhabi-based Waha Capital said yesterday its fiscal first-half net profit for the current financial year surged 9.69 per cent on year to Dh66.8 million.
- By Himendra Mohan Kumar, Staff Reporter
- Published: 00:03 July 24, 2008
Abu Dhabi: Abu Dhabi-based Waha Capital said yesterday its fiscal first-half net profit for the current financial year surged 9.69 per cent on year to Dh66.8 million.
Waha's revenue for January-June period increased to Dh272.4 million from Dh212.5 million during the same period in 2007, the company said in a statement.
"The company's restructuring at the beginning of the year allowed it to tap new business opportunities, which has helped in generating higher revenues and profit," a spokesman for Waha told Gulf News.
Waha's operating assets increased to Dh4.59 billion by June 30, posting a 5.5 per cent growth during the year from Dh4.35 billion at the end of 2007.
Waha's shares closed 1.61 per cent higher at Dh2.55 on the Abu Dhabi Securities Exchange yesterday.
Waha was established by restructuring Oasis International Leasing. The company previously said its investments over the next three years in aviation, finance, real estate, infrastructure and maritime and logistics sectors will together exceed Dh20 billion.
The company has four subsidiaries - Waha Land, Waha Leasing, Waha Maritime and Waha Financial Services (joint venture with 60 per cent stake).
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