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FINANCIAL NEWS
Abu Dhabi’s Waha posts $10m profit in Q3
24 Oct 2010
(MENAFN) Salem Rashid Al Noaimi, Chief Executive Officer of Waha Capital, said that the company’s net profit has increased to $10.07 million in the third quarter of 2010, up from $544,400 in the same period of 2009, Khaleej Times reported.
During the first nine months of this year, Waha’s net profit soared by 239 percent to $20.96 million from a year earlier, the CEO said.
Waha Capital, a diversified investment holding company based in Abu Dhabi, generated total revenues of $84.9 million between January and September of the current year, down from $96 million a year earlier.
Waha Capital registered several transactions of note during the third quarter of 2010, included arranging a $1.5 billion bond to finance aircraft for the UAE Armed Forces and delivering two new Airbus A330-300 aircraft to Singapore Airlines on long-term leases.
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