Abu Dhabi-Mubasher: Mubadala Development Company turned to losses in the first half of 2016, according to a statement.
Losses reached AED 4.43 billion ($1.21 billion) in H1-16, against profits of AED 625.5 million ($170.25 million) in H1-15.
Total revenues rose to AED 14.3 billion in H1-16 from AED 13.6 billion in H1-15 due to higher revenues generated from the healthcare and semiconductor business.
Operating loss stood at AED 2.3 billion in H1-16, compared to a gain of AED 803 million in the prior-year period, primarily due to a combination of lower commodity prices and higher depreciation.
Total comprehensive income also swung to a loss of AED 4.96 billion in H1-16 from positive income of AED 477.7 million in H1-15.
