Abu Dhabi – Mubasher: Waha Capital has achieved net profits attributable to the owners of the company of AED 58.51 million in the first nine months of 2020, against net losses of AED 387.25 million in the year-ago period.
The company has generated revenues from the sale of goods and services of AED 226.28 million in the January-September period of 2020, up from AED 221.62 million in the same period of 2019, according to the company's consolidated financials for the period ended on 30 September 2020.
The basic and diluted losses per share stood at AED 0.03 in the first nine months of 2020, against earnings per share (EPS) of AED 0.21 in the corresponding period of 2019.
In the third quarter (Q3) of 2020, the company saw net profits of AED 86 million, against net losses of AED 205 million in Q3-19.
The CEO of Waha Capital, Ahmed Khalifa Al Mehairi, said: "While we have exercised constraint in managing our expenses both in capex and staff recruitment terms, we have a number of new initiatives in the pipeline including a further high yield investment fund soon to be launched and regional Private Investment deals."
It is noteworthy to mention that in the first half (H1) of 2020, the company's net losses decreased to AED 27.21 million from AED 182.23 million in the same half of 2019.
