442% surge in profit for Waha Capital

Waha Capital, the diversified Abu Dhabi-based holding company, has recorded the highest profits since it was established in 1997, with net profit growing to Dh217 million as of December 31, 2009, compared to Dh40m during the previous year, representing an increase of 442 per cent.

The results announcement came at the company's board meeting in Abu Dhabi. Operating profits increased by 351 per cent compared to the same period in 2008, reaching Dh212m. The company's total operating income also grew 71 per cent over 2008 to Dh846m. As of December 31, 2009, the company's operational assets are Dh4.3 billion.

Hussain Al Nowais, Chairman of Waha Capital, said: "Over the past year we announced several key investment initiatives, in line with our proven strategy."

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