Waha Capital PJSC announced its preliminary financial results, reporting a net profit of AED 306.4 million for 2013, compared to AED 214.4 million in 2012, marking a year-on-year increase of 43 per cent and the company's highest results since its establishment. The growth in net profit was driven by increased returns from Waha Capital's key direct investments, including New York -listed aircraft leasing company AerCap Holdings and UAE consumer finance company Dunia Finance, as well as the strong performance of the company's capital markets division. The value of Waha Capital's assets increased 18 per cent as of 31 December, 2013 to reach AED 5.24 billion, up from AED 4.44 billion a year earlier. The preliminary results were announced following a Board meeting in Abu Dhabi chaired by His Excellency Hussain Jasim Al Nowais, Chairman of Waha Capital . " Waha Capital has achieved strong financial results in 2013 with record net income, thanks to the implementation of the sound investment strategy the company adopted a few years ago," said Al Nowais. "Although we are very pleased with our results and the growth indicators, we view this accomplishment as a small step towards achieving greater profits and continuing to increase long-term shareholder value through investment in high potential sectors. Our strong track record helps position Waha Capital as the investment partner of choice in the region." Waha Capital's results translate into earnings per share of AED 0.16 in 2013, compared to AED 0.11 a year earlier, with return on equity rising to 12.6 percent from 9.4 percent. Shareholder equity increased by 8.4 percent in 2013 to reach AED 2.53 billion up from AED 2.33 billion in 2012.
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