Abu Dhabi – Mubasher: Mubadala Investment on Thursday announced that its revenues rose 14.4% during the first half of 2017.
The revenues amounted to AED 83.4 billion in H1-17, as compared to AED 72.9 billion in the year-ago period, due to strong performance and higher revenues across Mubadala’s investment platforms, according to a press release.
The primary drivers being the upstream and integrated oil and gas, semiconductors, and aerospace sectors, the company added.
The profits hiked to AED 4.2 billion, from a negative AED 4.7 billion for the same period in 2016.
Total assets were AED 465.5 billion as of 30 June 2017, compared to AED 449.7 billion at the end of 2016, primarily due to an increase in the value of financial investments.
“We will continue to integrate, optimize and grow the company’s assets under our global business platforms, to create and realize maximum financial and strategic returns to support diversification of the economy of Abu Dhabi and the country.” CEO and managing director Khaldoon Al Mubarak said.
“In the first half of 2017, we worked to integrate the two portfolios under the Mubadala Investment Company. We managed our costs prudently, while monetizing mature assets and growing our profit as we reduced our overall leverage.” CFO Carlos Obeid said.
