FINANCIAL NEWS

Mubadala’s profit drops 76% in 2010

25 Mar 2011

(MENAFN) Mubadala announced that profits in 2010 amouted to around USD300 million, a 76 percent year-on-year drop, reported AP.

The Abu Dhabi state-owned Mubadala said that the reason behind this fall was the company’s decision to lower the book value of some of its holdings.

Mubadala also said that earnings in 2010 amounted to USD299.7 million, down from 2009’s USD1.25 billion.

On the other hand, Mubadala reported a 22 percent increase in revenues which amounted to USD4.36 billion.

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