Abu Dhabi – Mubasher: The UAE-based Waha Capital on Thursday reported a 10.2% increase in net profits of the first nine months, whereas net profits levelled down 34.6% year-on-year during the third quarter of 2018.
The company generated AED 295.1 million ($80.36million) in the nine-month period, up from AED 267.80 million ($72.92 million) a year before, according to a statement.
The Emirati major firm attributed the increase in profits from January to September to a growth in private investments.
Private investments jumped 17% to AED 309.2 million in first nine months.
“Our Private Investments business continues to grow through a strategy of investing in high potential companies in our areas of expertise, including energy, financial technology and financial services,” CEO Michael Raynes added in the statement.
Waha Capital further noted that total income hit AED 812.2 million, while the value of total assets amounted to AED 12.35 billion.
As for Q3-18, the company which is listed on the Abu Securities Exchange (ADX) reported dropping to AED 55.4 million, from AED 84.67 million in the year-ago period.
Waha Capital total income also tumbled 25%, reaching AED 199.4 million by the end of Q3-18.
