Waha Capital, the diversified Abu Dhabi-based ADX-listed company today announced its financial results for the first half of 2009. Revenues for the six months ending 30th June 2009 stood at AED 249 million. Net profits were AED 21 million for the period ending 30th June this year. The results were released following the company’s board meeting.
Waha Capital’s financial report sent to ADX showed that operating profits were AED 11 million in the first half of this year. Value of operating assets stood at AED 4.6 billion at the end of the first half of 2009.
Salem Rashid Al Noaimi, Waha Capital’s CEO, highlighted the Company’s firm belief in a long-term and well-defined investment policy aimed at diversifying sources of income while meticulously considering emerging business opportunities, especially in the UAE. "We are committed to keeping shareholder and partner interest paramount in all our business dealings continues to bear fruit."
"The recession notwithstanding, Waha Capital has achieved significant milestones during the first half of this year, including winning a mandate to manage a AED 11 billion facility to finance the purchase of military transportation aircraft by the UAE Armed Forces", he added.
Al Noaimi also noted that Waha Land, the real estate arm of Waha Capital, had unveiled its inaugural project, AL MARKAZ, this April. AL MARKAZ, is the first fully-fledged, multi purpose project in Abu Dhabi with a preliminary investment of AED 4 billion.
"The recent agreement to acquire 50% of AerVenture is yet another milestone," Al Noaimi said. "AerVenture’s fleet of 22 Airbus A 320 are valued at AED 8.8 billion, with 32 confirmed orders for the same aircraft".