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FINANCIAL NEWS
Abu Dhabi’s Waha Capital reports USD25.31m profit in Q4
01 Feb 2012
(MENAFN) Abu Dhabi-based Waha Capital reported 46 percent decline in fourth quarter profits, citing a one-time gain in its year-ago results for the drop, Reuters reported.
Waha said it made a net profit of USD25.31 million, down from USD46.9 million a year earlier. Total assets grew 11 percent to USD1.15 billion last year.
Waha said its year-ago results included a gain from its October 2010 acquisition of a stake in aircraft leasing firm AerCap.
The company, which is involved in real estate and leasing for the oil and aviation sectors, arranged a USD505 million revolving loan facility last year to finance its businesses development.
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