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FINANCIAL NEWS
UAE’s Mubadala net profit up 23 percent in H1
19 Sep 2014
(MENAFN) Mubadala, the Abu Dhabi investment fund, announced posting an increase of 23 percent in its profit in the January-June period to reach USD364.8 million, Arabian Business reported.
The increase in profit was attributed to Mubadala’s Income from its joint venture businesses, which doubled to USD 577.18 million, and mostly due to Emirates Global Aluminum and Dolphin Energy.
The company’s profit was also boosted by a near-tripling of income from one-off equity-related gains and disposal of subsidiaries, as well as selling a district cooling plant in Abu Dhabi’s Al Maryah island and the aerospace business Abu Dhabi Aircraft Technologies (ADAT) to Etihad Airways.
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