The Abu Dhabi-based investment company Waha Capital reported a net profit of Dh349 million for the first half of 2015. AerCap Holdings, Dunia Group and Capital Markets Division heavily contributed to the company’s performance.
The first half net profit of Dh349 million was 24% higher than the Dh 107.8 million net profit reached in the first half of 2014. The profit also shows a 182% increase compared to the Dh 123.7 million gain recorded in the first half of 2013. In the second quarter of 2015, Waha Capital recorded a profit of Dh 166.9 million.
Chairman of Waha Capital, Hussaun al Nowais, stated that the company’s approach to invest in some of the fastest growing divisions of the economy has certainly proven advantageous. Waha Capital manages direct Principal Investments and global securities portfolios.
Hussain al Nowais commented saying, “Waha Capital continues to strengthen its position as a leading investment company with a well-diversified, strong-performing portfolio of regional and global investments. We are focused on creating value for our shareholders and are confident about the company’s outlook going forward.”
In the first half of 2015, Waha Capital benefited greatly from an increase in earnings per share at AerCap Holdings. Inc. Following AerCap’s acquisition of International Lease Finance Corporation in May of 2014, the company reported a net profit of $621 million. This reflects a 249% increase from the prior year and led to an earnings increase from $1.28 to $2.95 per share.
Dunia Finance recorded a net income of Dh119.6 million in the first half of 2015. This reflects a 44.7% year-to-year raise. Low interest rates contributed to increasing customer demand.
In the beginning six months, The Capital Markets Division made an income of Dh138.6 million. They also launched equities and fixed income funds, which will be offered to third-party investors later this year.