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FINANCIAL NEWS
Abu Dhabi’s Waha Capital reports USD3.4m loss in Q2
01 Aug 2012
(MENAFN) Abu Dhabi-based investment firm Waha Capital reported a USD3.4 million net loss during the second quarter, compared to a USD1.63 million profit a year earlier, reported Reuters.
Waha said it set aside USD4.35 million for doubtful loans and receivables, in addition to USD1.9 million towards impairment of operating lease assets in the first half of this year, the company said.
Quarterly operating income increased to USD9 million from USD5.9 million a year earlier, the company said.
First half profit, however, declined by 90 percent to USD952.65 million from a year earlier.
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