Waha Capital profit tumbles in second quarter

Waha Capital’s second-quarter net profit plunged 22 per cent as income from certain investments dropped and costs rose, the Abu Dhabi investment firm said yesterday. Net profit attributable to equity owners slid to Dh130 million from Dh166.8m a year earlier, the company said in a statement. Income from equity-accounted associates and joint ventures declined 12.7 […]

Waha Capital’s second-quarter net profit plunged 22 per cent as income from certain investments dropped and costs rose, the Abu Dhabi investment firm said yesterday.

Net profit attributable to equity owners slid to Dh130 million from Dh166.8m a year earlier, the company said in a statement.

Income from equity-accounted associates and joint ventures declined 12.7 per cent to Dh132.2m from Dh151.5m. General and administrative expenses increased to Dh96.2m from Dh88.5m, while finance costs rose to Dh26.2m from Dh19.4m.

Waha Capital’s investments range from stakes in UAE consumer finance company Dunia Group to New York-listed aircraft leasing company AerCap Holdings.

The Abu Dhabi government-­owned investment firm Muba­dala Development owns a 15.4 per cent stake in Waha.

dalsaadi@thenational.ae

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Source: Business

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