Waha Capital's report sent to the Abu Dhabi Securities Exchange (ADX) showed that the company's net profit for the 2nd quarter of the year was Dhs6m compared to Dhs5.98m for the 2nd quarter of 2010. Total income for the same period reached Dhs64.3m compared to Dhs96.5m for the corresponding period last year.
Waha Capital's assets increased to Dhs3.87bn as at 30 June 2011, posting a 2% growth during the year from Dhs3.80bn as at 31 December 2010.
Salem Rashid Al Noaimi, Waha Capital's CEO, highlighted the Company's firm belief in its long-term and well-defined investment policy aimed at diversifying sources of income while meticulously considering emerging business opportunities, especially in the UAE.
In the 2nd quarter, Waha Capital successfully closed a $505m Term and Revolving Credit Facility with eleven local, regional and international banks. Furthermore, the company continued work on its multi-use industrial complex ALMARKAZ established on an area of 6 km2 and located 25km away from Abu Dhabi city center. The project includes a fully integrated compound of warehouses, storage and light industrial facilities.
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Waha Capital posts Dhs35.8m net profit in h1 2011
- United Arab Emirates: Saturday, July 30 - 2011 at 15:12
- PRESS RELEASE
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Waha Capital, the diversified Abu Dhabi-based ADX-listed investment holding company announced on Thursday its financial results for the first half of 2011. Total income for the six months ended 30 June 2011 stood at Dhs147.8m. Net profits were Dhs35.8m for the period ended 30 June this year. The results were released following the company's Board meeting held on Thursday 28 July 2011.
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Posted by Rana MesbahSaturday, July 30 - 2011 at 15:12 UAE local time (GMT+4)
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