Abu Dhabi – Mubasher: Mubadala Investment’s net profit leaped102% year-on-year in 2017, registering AED 10.3 billion.
The Abu Dhabi-based company ascribed this jump in profits to the sale of some assets and the increase of financial investments, according to a company statement released on Sunday.
Mubadala’s revenues surged 14% to AED 165.6 billion last year versus AED 145.4 billion a year earlier.
Mubadala Investment’s CEO and managing director Khaldoon Khalifa Al Mubarak commented: “2017 was a landmark year for our new organisation. All four global platforms contributed to our strong financial and operational results.”
The company’s total assets increased by 4.4% year-on-year to AED 469.4 billion in the previous fiscal year, Mubadala’s data showed.
“The scale of our integrated portfolio enabled us to increase investments in existing companies and monetise mature assets, while entering new sectors in key international markets where we see long-term growth potential and alignment with Abu Dhabi’s strategic priorities,” Al Mubarak added.
