Waha Capital PJSC Announces Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017
Waha Capital PJSC announced earnings results for the fourth quarter and full year ended December 31, 2017. For the year, the company has reported a preliminary net profit of AED 425.9 million, an increase of 4.6% from a year earlier, due to gains from divestments and lower costs. Return on equity of 11.7% for 2017, compared to 10.5% in 2016. Earnings per share were AED 0.23 against AED 0.22 a year ago.
The company reported a net profit of AED 158.1 million in the fourth quarter of 2017, compared to AED 19.5 million in the same period of 2016, an increase of 710.8%. The main contributors to this significant increase were two transactions in the fourth quarter of 2017, which resulted in the booking of gains on disposal.