Friday 18 September 2015

Mubadala’s net profits down 53% in H1 | GulfNews.com

Mubadala’s net profits down 53% in H1 | GulfNews.com:

"Mubadala Development Company (Mubadala) on Thursday reported Dh625.5 million in net profits in the first half of 2015, marking a 53.4 per cent drop from the Dh1.3 billion reported in the same period in 2014 as increased income from investments was offset by higher costs.

Meanwhile, revenues were almost flat, with Dh15.9 billion recorded in the first half of the year compared to the Dh16 billion in the same period last year, the Abu Dhabi state-owned investment fund said in a statement.

The plunge in net profits stems from lower commodity prices, with Mubadala recording Dh2.6 billion in energy revenue in H1 2015 — down from the Dh3.1 billion recorded in H1 2014."



'via Blog this'

No comments:

Post a Comment