Abu Dhabi, 30 July 2011(WAM) - Waha Capital, the diversified Abu Dhabi-based ADX-listed investment holding company announced on Thursday its financial results for the first half of 2011. Total income for the six months ended 30 June 2011 stood at AED 147.8 million. Net profits were AED 35.8 million for the period ended 30 June this year. The results were released following the companys Board meeting held on Thursday 28 July 2011.
Waha Capital's report sent to the Abu Dhabi Securities Exchange (ADX) showed that the company's net profit for the 2nd quarter of the year was AED 6 million compared to AED 5.98 million for the 2nd quarter of 2010. Total income for the same period reached AED 64.3 million compared to AED 96.5 million for the corresponding period last year. Waha Capitals assets increased to AED 3.87 billion as at 30 June 2011, posting a 2 percent growth during the year from AED 3.80 billion as at 31 December 2010. Salem Rashid Al Noaimi, Waha Capitals CEO, highlighted the Companys firm belief in its long-term and well-defined investment policy aimed at diversifying sources of income while meticulously considering emerging business opportunities, especially in the UAE.In the 2nd quarter, Waha Capital successfully closed a US$ 505 Million Term and Revolving Credit Facility with eleven local, regional and international banks. Furthermore, the company continued work on its multi-use industrial complex ALMARKAZ established on an area of 6 km2 and located 25km away from Abu Dhabi city center. The project includes a fully integrated compound of warehouses, storage and light industrial facilities.
Copyright Emirates News Agency (WAM) 2011.
