Dubai: Waha Capital said on Monday net profit jumped 31 per cent to Dh237.9 million, in the first half to June, driven by increased income from private investments and asset management business.

The company’s net income rose 12.3 per cent to Dh618.7 million in the six months to June.

“The company’s balance sheet remains robust with a strong level of cash realisation and consistent performance from both its Private Investments and Asset Management businesses,” Waha Capital said in a statement.

In the second quarter to June, Waha Capital’s net profit jumped 38.5 per cent to Dh132.4 million. Total income in the same period rose 7.7 per cent to Dh306.5 million.

“Waha Capital has produced another strong set of results and an attractive return on equity of 7.2 per cent in the first half of 2018. The company’s leadership team has built a very well balanced and diversified business, and both divisions — Private Investments and Asset Management — have delivered robust growth this year,” Salem Rashid Al Nuaimi, chairman of Waha Capital said in a statement.

“Now, thanks to our strong balance sheet, Waha Capital is well positioned to make additional direct investments, focusing on sectors where we have built significant expertise. The company is also taking our attractive offering to third-party investors, both for direct co-investment

opportunities and for our award-winning asset management business,” he added.