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FINANCIAL NEWS
Bahrain- Investcorp profit up 37% in 2011
03 Aug 2011
(MENAFN) The Bahrain-based Investcorp’s alternative investment manager said that the company’s net income for the fiscal year 2011 increased by 37 percent to USD140.3 million driven by a strong performance at its corporate and real estate investment divisions, reported Reuters.
The alternative investment manager also said that the company registered a net income in the fiscal year, which ended in June 2011, by USD140.3 million compared with the previous fiscal year when the company recorded USD102.2 million.
The manager also said that Investcorp realized more than USD1 billion in proceeds from alternative investments during the fiscal year that ended in June. The company’s asset-based income, which includes corporate and real estate investments, rose 52 percent to USD216.2m.
It is worth mentioning that Investcorp sold quality and safety services firm Moody International in March, for about USD730m after it purchased the 2,500-employee business in 2007 for the total amount of USD311 million.
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