Abu Dhabi – Mubasher: Waha Capital on Thursday stated that its profits rose 3.4% year-on-year in the third quarter of 2017.

The company’s profits reached AED 84.67 million ($23.04 million) in Q3-17, compared to AED 81.82 million ($22.27 million) in Q3-16, according to a statement to the Abu Dhabi Securities Exchange (ADX).

The firm attributed the growth in its year-on-year profits to a rise in income, and to a decrease in costs, as the income levelled up 6.6% to AED 266.50 million, whereas costs dropped 3.5% to AED 170.15 million, from AED 176.42 million.

At the level of the first nine months of 2017, Waha Capital’s profits retreated 31% to reach AED 267.80 million, compared to AED 387.68 million in the corresponding period in the year earlier.

Earnings per share (EPS) amounted to AED 0.15 from January until September 2017, compared to EPS of AED 0.21 in the year-ago period.

The company’s total income tumbled 6.4% to AED 816.18 million in the first nine-month period of 2017, from AED 872.23 million in the same period in 2016.