Abu Dhabi-Mubasher: Waha Capital posted net profits of AED 588 million in the fiscal year 2015, a rise of 18% from adjusted net profits of AED 498.1 million a year earlier, after taking out net non-recurring items, primarily the one-off gain recorded in 2014 on the company’s stake in AerCap Holdings.
Net profits reported in 2014, prior to adjustment, were AED 1.732.7 billion, according to the company’s recent statement.
Earnings achieved in 2015 were attributed to investments in the aircraft leasing and consumer finance sectors, in addition to strong performance of the company’s capital markets portfolios.
Earnings per share (EPS) rose 19% to AED 0.31 in FY15, compared to the adjusted figure of AED 0.26 in FY14.
In the fourth-quarter of FY15, net profit fell 15% to AED 121 million from AED 142.1 million in the same quarter of FY14.
Commenting on the company’s financials, Chairman Hussain Jasim Al Nowais said, “Waha Capital’s commitment to asset diversification, including in defensive sectors such as healthcare, and our strategy to increase the proportion of liquid assets on our balance sheet, should help the company continue to deliver above-market returns in the coming years.”
