FINANCIAL NEWS

UAE’s Mubadala posts USD283.2m net profit for 2014

02 Apr 2015

(MENAFN) Mubadala Development Company PJSC, the wholly owned investment vehicle of the Government of Abu Dhabi, logged a USD283.2 million net profit in 2014, marking a 28.7 percent decrease compared to 2013, Arabian Business reported.

The company attributes the slump to lesser returns from fiscal investments and deficiencies in oil and gas assets. Mubadala owns welfares in semiconductors, energy, aerospace and real estate markets.

Profit attributed to business investments decreased to USD348.41 million in 2014, down from USD914.57 million in 2013. The company’s supplies of oil and gas reached an estimated value of around USD511.72 million.

Total assets increased to USD66.3 billion in the fourth quarter of 2014, marking a limp from the USD60.9 billion in 2013. The company said that the increase is due to further equity injection from the Abu Dhabi government.

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