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FinancialNews


  • 03-06-19

    38 percent jump in revenues of Bahrain's Mumtalakat

    (MENAFN) Revenues that Bahrain's sovereign wealth fund Mumtalakat witnessed last year marked a jump by 38 percent compared to 2017.

    In a statement, the sovereign wealth fund attributed the boost to Formula One carmaker McLaren Group as well as a surge in sales at Aluminium Bahrain (Alba).

    By December 31st, Mumtalakat announced that it stood at USD5.5 billion in its revenues for last year while share of profits reached USD147.9 million to register a 268 percent raise.

    Deputy Prime Minister Sheikh Khalid bin Abdulla Al Khalifa stated: "Mumtalakat's investment strategy is linked to national economic diversification plans."

    Al Khalifa added: "the performance results indicate that capital expenditure in key local portfolio companies increased by 9 per cent in 2018, reaching $1.7bn."

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