IPIC first half profit from continuing operations $159.2m

Company had assets of $48.2 billion at the end of June
IPIC first half profit from continuing operations $159.2m
PROFITS: IPIC revenue rose to $9.92 billion from $9.85 billion last year, according to the document (Getty Images)
By Bloomberg
Wed 03 Nov 2010 12:08 AM

International Petroleum Investment Co, an Abu Dhabi government backed investor, had a first half profit of $159.2 million from continuing operations compared with $2.65 billion a year ago, according to its bond prospectus.

Profit from continuing operations in 2009 jumped to $3.86 billion from $305.5 million in the previous year, while revenue rose to $9.92 billion from $9.85 billion, according to the document.

IPIC had assets of $48.2 billion at the end of June, the prospectus said.

 

For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.