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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

International Petroleum Investment Company’s 2012 net profit at Dh6.4 bln

Posted on 08 May 2013

Abu Dhabi’s sovereign wealth fund International Petroleum Investment Company (Ipic) said on Tuesday its fiscal year 2012 net profit rose to a whopping Dh6.4 billion from Dh164.1 a million year earlier on the back of robust operational performance of Cepsa, Nova Chemicals, and Borealis along with the recovery of certain listed equities held by Aabar.
“Total comprehensive income reached Dh6.0 billion for 2012, an increase of Dh15.3 billion from the previous year. Consolidated revenue increased from Dh126.0 billion to Dh190.6 billion in 2012 while operating profit increased from Dh9.2 billion to Dh11.7 billion for the same period,” Ipic said in a statement………………………………………..Full Article: Source


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