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CORRECTED-UAE state fund Mubadala's net profit nearly triples in 2016
March 30, 2017 / 10:31 AM / 6 months ago

CORRECTED-UAE state fund Mubadala's net profit nearly triples in 2016

(Corrects company name to Mubadala Development Co from Mubadala Investment Co)

ABU DHABI, March 30 (Reuters) - Abu Dhabi’s state-owned Mubadala Development Co said its net profit nearly tripled in 2016, while total comprehensive income rebounded to a profit from a loss in 2015, primarily helped by financial investments.

Mubadala reported a net profit of 3.3 billion dirhams ($899 million) for 2016, compared to a net profit of 1.2 billion dirhams in 2015.

Total comprehensive income, which comprises all forms of income was 4.1 billion dirhams in 2016, up from 1.3 billion dirhams in the previous year, the company said in a statement on Thursday.

$1 = 3.6729 dirhams Reporting By Stanley Carvalho; Editing by Susan Fenton and David Evans

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