Abu Dhabi – Mubasher: The net profits attributable to the shareholders of Waha Capital totalled AED 186.96 million in the first nine months (9M) of 2022, an annual plunge of nearly 37% from AED 296.54 million.
The net operating income shrank to AED 440.54 million in the January-September 2022 period, versus AED 694.10 million in 9M-21, according to the income statements.
The basic and diluted earnings per share (EPS) attributable to the owners stood at AED 0.10 in 9M-22, lower than AED 0.16 during the same period a year earlier.
In the third quarter (Q3) of 2022, the net profits attributable to equityholders widened by about 210% year-on-year (YoY) to AED 99.68 million from AED 32.05 million.
Furthermore, the net operating income amounted to AED 216.54 million in Q3-22, up from AED 145.92 million in Q3-21.
Meanwhile, the basic and diluted (EPS) attributable to the shareholders rose to AED 0.05 in Q3-22 from AED 0.01 in the year-ago period.
Waleed Al Mokarrab Al Muhairi, Chairman of Waha Capital, said: “The operating environment in Q3-22 remained challenging as high inflation and geopolitical uncertainty continued to impact global capital markets and other asset classes.”
Al Muhairi added: “Despite macroeconomic headwinds, Waha Capital demonstrated its resilience and reported strong financial performance for the third quarter, with total income increasing 67% and net profits more than doubling YoY.”
He noted: “Attracting third-party capital and growing the investor base remains a strategic priority for the organisation, with total assets under management increasing AED 700 million in 9M-22.”
In the first half (H1) of 2022, the ADX-listed firm posted a 67% drop in net profit attributable to the owners to AED 87.28 million, compared to AED 264.48 million in H1-21.
