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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

Mubadala Development Company registers 10.4pct growth in half-yearly profits

Posted on 01 October 2013

The investment arm of the Abu Dhabi government Mubadala Development Company has recorded a 10.4% increase in half-yearly profits, attributed mainly to earnings from financial investments, to AED1.1 billion (US$299.4 million) against AED984.7 million (US$268.02 million) from the same period last year.
Abu Dhabi’s Mubadala Development Co., a stakeholder in luxury carmaker Ferrari, swung back to profit in 2009 as value of investments rebounded, posting Monday a 1.3 billion dollar profit.The government-owned company posted 4.79 billion dirhams (1.3 billion dollars) in profit attributable to equity holders, compared to a loss of 11.44 (3.1 billion dollars) registered in 2008, according to an audited financial statement posted on the company’s website. (Press Release)


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