Monday, Nov 12, 2012
DUBAI (Zawya Dow Jones)--Waha Capital, an Abu Dhabi-based investment firm, Monday said third-quarter net profit rose slightly to 27.5 million U.A.E. dirhams ($7.5 million) as profits from investments increased and expenses fell.
The profit was 3.4% higher than last year's third quarter. While operating income fell by more than half, operating expenses also fell to AED23.3 million from AED32.6 million a year ago, according to financial statements posted on the Abu Dhabi bourse website.
Waha has a financial advisory business and holds private equity stakes in local companies including Stanford Marine Group and Dunia Finance. It also owns a stake in Aercap Holdings, an aircraft leasing company listed in New York. The company said it did not participate in Aercap's share buyback programs, and its stake has risen to 24.6% from 21.3% at the end of last year.
Write to Asa Fitch at asa.fitch@dowjones.com
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(END) Dow Jones Newswires
12-11-12 0448GMT
