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The company announced a profit of AED 25.3 m during the quarterly reporting period, representing an increase of 121 per cent over the previous quarter, and up 258 per cent over the third quarter of 2005. These quarterly results affirm the substantial gains recorded during the first half of 2006.
Over the first three quarters of the year, operational assets held by the company increased 66 per cent to AED 3.15 b when measured against the same period of 2005.
In keeping with the stated direction of the company, Oasis signed two significant infrastructure deals during the quarter. In partnership with Tabreed and Gulf International Bank, Oasis entered into an Islamic Ijara facility to finance six portable cooling plants in the UAE. The company also became a sponsor, with partners Dubai International Capital and HSBC Middle East in the $500 m MENA Infrastructure Fund.
Commenting on the cumulative quarterly results HE Hussain Al Nowais, Chairman, said
"The company has firmly turned the corner in terms of its aviation investments and is actively investigating new investment opportunities. In addition, Oasis is looking to further expand its investment activities in both infrastructure and shipping within the GCC region. This reflects the new strategy for enhancing and diversifying our portfolio. We expect a continuation of the strong performance of these results to be reflected in our year end figures."
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Posted by Anne-Birte Stensgaard, Senior News Editor
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