Abu Dhabi – Mubasher: Waha Capital has reported net profits attributable to the owners of AED 110.581 million in the first quarter (Q1) of 2021, against net losses of AED 294.454 million in the same quarter of 2020, according to the company's consolidated financials for the three-month period ended 31 March 2021.

The company has turned to profitability because of the robust performance in the public markets and private investment businesses and the improvement of the global economic outlook due to the coronavirus (COVID-19) vaccination.

The company's revenues from the sale of goods and services increased to AED 77.949 million in Q1-21 from AED 74.271 million in Q1-20.

The earnings per share (EPS) settled at AED 0.060 in the first three months of 2021, versus losses per share of AED 0.160 in the corresponding period of 2020.

The Chairman of Waha Capital, Waleed Al Mokarrab Al Muhairi, said: "The outlook for the rest of the year is encouraging, and the company has a comprehensive strategy to take advantage of opportunities in our key sectors and markets."

Meanwhile, the CEO of Waha Capital, Ahmed Khalifa Al Mehairi, commented: "Our growth strategy is on track, our market-leading funds continue to perform extremely well against peers, and our recent investments are already contributing to our profitability."