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- Dubai 04:17 05:37 12:18 15:44 18:55 20:15
Abu Dhabi-based Waha Capital on Monday announced a marginal increase in net profit to Dh27.5 million for the third quarter of 2012 compared with Dh26.6 million in the same period of 2011.
The company's portfolio investments continued to perform well against a backdrop of global macroeconomic uncertainty.
The financial results were announced following a board meeting of the company in Abu Dhabi, chaired by Hussain Jasim Al Nowais, Chairman of Waha Capital. The company currently has assets worth Dh4.24 billion compared to Dh4.2 billion at the end of 2011.
In the third quarter, the company recorded total revenues of Dh69.2 million compared to Dh79.5 million a year earlier. Total operating expenses were Dh43.7 million in the quarter, compared to Dh52.3 million a year earlier.
"We are pleased with the performance of our investments, especially given the difficult global market conditions," said Salem Al Noaimi, company's Managing Director.
"Our balance sheet remains strong, and we are now well positioned to take our business forward, capitalising on attractive investment opportunities in growth areas, particularly in the GCC."
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