Mubadala reported a net profit of 3.3 billion dirhams ($899 million) for 2016, compared to a net profit of 1.2 billion dirhams in 2015. Total comprehensive income, which comprises all forms of income was 4.1 billion dirhams in 2016, up from 1.3 billion dirhams in the previous year, the company said in a statement on Thursday. (Corrects company name to Mubadala Development Co from Mubadala Investment Co)ABU DHABI, March 30 Abu Dhabi's state-owned Mubadala Development Co said its net profit nearly tripled in 2016, while total comprehensive income rebounded to a profit from a loss in 2015, primarily helped by financial investments. ($1 = 3.6729 dirhams) (Reporting By Stanley Carvalho; Editing by Susan Fenton and David Evans)
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Last year's projects and facilities spending on all business segments amounted to 172 billion yuan, less than the 192 billion yuan budgeted a year earlier, and less than half of the 352 billion yuan spent in 2012. PetroChina said 2016 net profit amounted to 7.9 billion yuan (US$1.15 billion), down from 35.5 billion yuan in 2015, in line with its warning two months ago of a 70 to 80 per cent fall. Fuel marketing booked a profit of 11 billion yuan, compared to a 500 million yuan loss in 2015. Wang made the comments in a post results press briefing after the company posted a 78 per cent profit decline for 2016 that was in line with analysts' expectations. A pipeline assets restructuring gain amounting to 21.6 billion yuan was booked in 2015.
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Bezeq reports 27.7% drop in net profit in 2016
Net profit in 2016 slumped by 27.7% to ILS1.24 billion, meanwhile, with the fourth quarter of the year seeing a notable drop, almost halving to ILS369 million. Israel's Bezeq has published its financial results for the year ended 31 December 2016, revealing a sizeable decline in EBTIDA and net profit, despite a small increase in revenues. EBITDA in 2016 totalled ILS4.06 billion, compared to ILS4.25 billion a year earlier, with an EBITDA margin of 40.3% (FY 2015: 42.6%), while operating profit stood at ILS2.32 billion, down from ILS2.57 billion. Fixed voice accesses continued to decline, meanwhile, falling to 2.119 million at the end of last year, representing a 2.8% year-on-year drop. Broadband lines at the end of the reporting period numbered 1.558 million, up from 1.479 million, of which 377,000 were wholesale lines, compared to 244,000 at end-2015.Last year's projects and facilities spending on all business segments amounted to 172 billion yuan, less than the 192 billion yuan budgeted a year earlier, and less than half of the 352 billion yuan spent in 2012. PetroChina said 2016 net profit amounted to 7.9 billion yuan (US$1.15 billion), down from 35.5 billion yuan in 2015, in line with its warning two months ago of a 70 to 80 per cent fall. Fuel marketing booked a profit of 11 billion yuan, compared to a 500 million yuan loss in 2015. Wang made the comments in a post results press briefing after the company posted a 78 per cent profit decline for 2016 that was in line with analysts' expectations. A pipeline assets restructuring gain amounting to 21.6 billion yuan was booked in 2015.
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