Waha Capital swings to profit in Q2 on higher operating income – The National

Waha Capital swings to profit in Q2 on higher operating income – The National

Net profit attributable to owners of the company for the period reached Dh267.2m





























Waha Capital, listed on Abu Dhabi bourse swung to profit during the second quarter. (Sammy Dallal / The National)





















Aug 4, 2020



August 4, 2020













Waha Capital, which counts Abu Dhabi's Mubadala Investment Company as one of its shareholders, swung to a profit in the second quarter on the back of a higher operating income.



Net profit attributable to owners of the company for the period ending June 30 reached Dh267.2 million, compared to a loss of Dh124.3m during the same period last year, the company said in a statement to Abu Dhabi Securities Exchange, where its shares trade.



"The fact that we were able to achieve one of the highest revenues for a single quarter in our history is a remarkable achievement given the current economic conditions,“ Amr AlMenhali, chief executive for Waha Capital, said on Tuesday. "Once again our asset management division was able to outperform its peer group and to position our portfolio to meet whatever challenges