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FINANCIAL NEWS
Bahrain free fund net profit declines by 68.7 percent
23 May 2016
(MENAFN) Bahrain sovereign fund Mumtalakat posted a 68.7 percent fall last year in net profit.
Moreover, net profit last year was USD 76.3mn against USD 243.6mn in the previous year.
Additionally, the reduction in net profit was due to losses recognized on goodwill, without elaborating.
The firm noted that the influence was offset by a higher contribution from its share of profit from associates at Gulf Air.
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