Waha Capital posts lower profits at $23.70mln in H1-22

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Abu Dhabi – Waha Capital has reported net profits attributable to the equityholders of AED 87.28 million during the first half (H1) of 2022, an annual drop of 67% from AED 264.48 million.

Revenues amounted to AED 55.37 million in the first six months (6M) of 2022, lower than AED 65.71 million during H1-21, according to the income statements.

The basic and diluted earnings per share (EPS) plunged to AED 0.05 in H1-22 from AED 0.14 in H1-21.

During the second quarter (Q2) of 2022, the UAE-based firm suffered net losses attributable to the owners worth AED 59.34 million, compared to a net profit of AED 153.90 million in the year-ago period.

The company’s revenues fell to AED 28.69 million in April-June 2022 from AED 33.57 million during the same period a year earlier.

Meanwhile, the basic and diluted loss per share stood at AED 0.03 in Q2-22, versus EPS of AED 0.08 in Q2-21.

In the January-March 2022 period, Waha Capital posted a 32% year-on-year (YoY) jump in net profit attributable to the owners to AED 146.62 million, compared to AED 110.58 million.