Mubadala releases full year results

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Mubadala releases full year results

Mubadala releases full year results

(Abu Dhabi) – Mubadala Development Company (Mubadala), the Abu Dhabi-based investment and development company, announced its full year audited financial and operational results for 2015, showing that the revenues increased to AED 34.1 billion as profit remains stable at AED 1.2 billion.
Group CEO and Managing Director, Khaldoon Khalifa Al Mubarak, said: “Mubadala managed through the significant macroeconomic volatility of 2015 to mark moderate increases in revenue and profit. In addition, we achieved a number of major milestones for Abu Dhabi, including the opening of Cleveland Clinic Abu Dhabi, the continued development of Al Maryah Island, and strengthening our base in key global industries such as aerospace and information technology.”
He further commented: “We remain resolutely focused on prudent cash management and cost control, as well as active oversight of our assets, in order for us to navigate the anticipated challenging market conditions of 2016 and beyond.”
(Courtesy WAM)