Abu Dhabi fund IPIC posts 23.4 pct profit hike for 2013

DUBAI, April 30 Wed Apr 30, 2014 6:17am EDT

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DUBAI, April 30 (Reuters) - International Petroleum Investment Co, an investment fund owned by the Abu Dhabi government, posted a 23.4 percent increase in 2013 net profit on Wednesday.

IPIC, which focuses on investments in the energy and related sector, made 7.9 billion dirhams ($2.15 billion) in 2013, according to a statement, up from 6.4 billion dirhams in the previous year.

Its total assets grew to 251.2 billion dirhams at the end of 2013, up from 239.3 billion dirhams on December 31, 2012.

($1 = 3.6730 UAE Dirhams) (Reporting by David French; Editing by Olzhas Auyezov)