Waha Capital 2013 Profit Up 43%

Abu Dhabi investment firm Waha Capital posted a 43 per cent rise in annual profit on Tuesday following higher returns on its portfolio.

Waha made a net profit in 2013 of Dhs306.4 million ($83.42 million), up Dhs214.4 million in 2012.

“The growth in net profit was driven by increased returns from Waha Capital’s key direct investments, including New York-listed aircraft leasing company AerCap Holdings and UAE consumer finance company Dunia Finance, as well as the strong performance of the company’s capital markets division,” it said in a statement.

The firm’s total assets grew to Dhs5.2 billion from Dhs4.4 billion a year earlier.

Waha is eyeing more investments, chief executive Salem Rashid Al Noaimi said in the statement.

“Our strategy is to acquire majority stakes in companies where value can be added through our principal investments division,” he said.

Apart from aircraft leasing and consumer finance, Waha Capital also has investments in sectors such as marine shipping, healthcare and property.