UAE’s Waha Capital hits 88 percent growth in its Q4 profit
01 Feb 2015
(MENAFN) Abu Dhabi investment firm Waha Capital posted an 88 percent growth in fourth-quarter profit, helped by its investments in aircraft leasing company AerCap Holdings, Emirates 24/7 reported.
Waha registered a net profit of USD38.7 million in the quarter ended in December 2014 compared to USD20.57 million in the same period a year ago, it showed.
The company’s full-year net profit estimated at USD470.8 million versus USD83.39 million in 2013.
In December, Waha hedged 12 million shares it owned in AerCap and sold a further 3 million shares in the aircraft leasing firm. Waha did a similar deal in September when it hedged half its stake (15 million shares) in AerCap.