Aabar’s 2009 net profit soars 133 per cent to $457 million

Aabar Investments bought a 40 per cent of Daimler AG's stake in electric-car start-up Tesla Motors Inc in July 2009. (AFP)

Abu Dhabi's Aabar Investments posted a full year net profit increase of 133 per cent to DH1.68 billion dirhams ($457.4 million) for 2009 from Dh721.6 million in 2008, it said on Monday.

According to a statement on the Abu Dhabi Securities Exchange website, the company's assets increased tenfold from Dh3,387,502 to Dh37,620,518, during the same period.

The company said the results were helped by the contribution of its parent firm International Petroleum Investment Company (IPIC), which amounted to Dh6.68 million, according to a statement on the website.

 

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