Mubadala revenues rise 70 per cent

28 September 2011

Government body marks positive growth in first half of the year

Abu Dhabi’s Mubadala Development Company has posted a 70 per cent increase in revenues to AED13.6bn ($$3.7bn) for the first half of this year compared to the same period last year.

The revenue boost was a result of the consolidation of its semiconductor business Advanced Technology Investment Company (ATIC) into the Mubadala Group, which also helped to raise total assets by 67 per cent to AD169.7bn.

“The consolidation of ATIC adds further diversification to our revenues and underlines Mubadala’s strategic intent to create globally competitive industry platforms that both accelerate the development of Abu Dhabi’s economy and deliver socio-economic benefits to its citizens,” says Khaldoon Khalifa al-Mubarak, chief executive officer and managing director of Mubadala.

A MEED Subscription...

Subscribe or upgrade your current package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications