Abu Dhabi – Mubasher: The UAE-based Waha Capital on Thursday reported a net profits of AED 145 million during the full-year 2018.
Total income reached AED 823.2 million last year, compared to AED 1.2 billion in 2017, according to the Abu Dhabi-listed firm’s initial financial statements.
Waha’s total assets amounted to AED 11.7 billion by the end of December 2018, up from AED 11.4 billion in the prior-year period.
The firm’s board of directors recommended distributing a cash dividend of AED 0.075 per share for 2018, subject to approval by shareholders at Waha Capital’s annual general meeting.
Commenting on the previous-year performance, chairman of Waha Capital Salem Rashid Al Noaimi said the company “continues to build a strong business, despite volatile capital markets and difficult operating conditions for some of our investments.”
He added that Waha Capital’s strategy is to remain focused on deploying capital effectively in the company’s areas of expertise, with a clear path to liquidity events that will create value for our shareholders.
During the first nine months of 2018, the Emirati major firm reported a 10.2% year-on-year profit increase, logging AED 295.1 million ($80.36million), up from AED 267.80 million ($72.92 million).
By 10:23 am UAE time, the company’s stock dipped 10% to AED 1.63.
