UPDATE 1-Aabar Q1 profit leaps on derivatives, restates Q1 '09 | Reuters

Abu Dhabi's Aabar Investments (AABAR.AD) posted a leap in net profit in the first quarter to 1.58 billion dirhams ($430.2 million), mainly due to derivatives income, after revising its year-ago result to a deep loss.

The firm, which has a stake in German automaker Daimler (DAIGn.DE), reported gains in income from financial derivatives of 1.2 billion dirhams in the quarter, according to the company's earnings statement.

But Aabar revised its first quarter 2009 result sharply lower to a loss of 1.045 billion dirhams from a previously reported profit of 177 million dirhams.