Waha Capital reports Dh123.7m net profit for H1 2013

Waha Capital PJSC, an investment company based in Abu Dhabi, recorded a first half net profit of Dh123.7 million.

The net profit was driven by Waha Capital’s direct investments in New York-listed AerCap, UAE consumer finance company Dunia Finance and the company’s advisory business.

Operating income totalled Dh 237.9 million, up from Dh113.4 million a year earlier.

The first-half financial results were announced following a board meeting in Abu Dhabi chaired by Hussain Jasim Al Nowais, chairman of Waha Capital.

“We have seen a very positive first half of the year, and are very pleased with the performance of our key direct investments,” said Al Nowais.

The value of Waha Capital’s assets stood at Dh4.51 billion as of June 30, 2013, compared to Dh4.43 billion from the end of 2012.

During the second quarter, Waha Capital made its first investment in the healthcare sector by acquiring Anglo Arabian Healthcare (AAH), a new healthcare group established to own and operate hospitals, clinics, pharmacies and diagnostic centres in the UAE.