Waha Capital’s net profit sky-rocketed during 2014 from Dh 306.4 million at the end of 2013 to Dh 1.73 billion at the end of 2014. That’s a whopping 465 percent increase in just one year. The primary factor contributing to this record annual profit is because of the dividends from the New York-listed airline leasing company AerCap. As a result of this tremendous success the board suggested a cash dividend of 25 fils per share. This was a 100% increase from 2013 dividends and applauded by analysts. National Bank of Abu Dhabi’s senior analyst Sanyalak Manibhandu said, “The dividend payment is something that everyone will appreciate coming through, and will boost confidence in management”.
One member of the management team had this to say about the growth, “Waha Capital has delivered an exceptional year, in which we have produced a 51% return on equity”. All of these positive developments bode well for the future of emirates holdings. As the company continues to see growth it will be in an advantageous position to make the most of future investment opportunities that arise.
Currently the company is in the midst of a buy-back program which has so far acquired 30.2 million shares. The program will end later this year on October 19th. As a result of the recent success the company is planning to invest another Dh 3.2 billion into growing its infrastructure, healthcare and energy portfolio. Hussain al Nowais has spoken extensively before this about the importance of investment in emirates holdings and the positive influences and culture it will develop.
Waha Capital decided to demonstrate this by creating a new unit in May to put its future energy sector investments into. It has invested itself up to a 20.15% stake in the Dubai oil and gas company, National Petroleum Services. The company’s customer base continues to grow currently with over 164,000 clients now. Without a doubt this is one of the top U.A.E. companies to keep an eye on in the near future.