1 Min Read
DUBAI, June 14 (Reuters) - Bahrain's sovereign wealth fund Mumtalakat on Wednesday posted a 140 percent rise in 2016 net profit.
Net profit in 2016 was 68.9 million dinars ($182.69 million), up from 28.7 million dinars in the previous year, which reflected an adjustment on goodwill in 2015 against Alba totalling $583 million as a result of lower aluminium prices.
The fund holds stakes in more than 50 enterprises in sectors, including industrial manufacturing and services, financial services, tourism, telecommunications, real estate, logistics, consumer, and healthcare, according to its website.
$1 = 0.3772 Bahraini dinars Reporting by Hadeel Al Sayegh and Saeed Azhar, editing by Louise Heavens