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FINANCIAL NEWS
Investcorp reports 56 percent net profit growth
31 Jul 2013
(MENAFN) Bahrain Investcorp released its results for the fiscal year with a net profit of USD104.9 registering an astonishing 56 percent jump from the same period last year, Saudi Gazette reported.
A considerable rise in investment and a raised demand in the Gulf for alternative investment led to this boost. Gross operating income went up to from USD267.1 million to USD361.8 million; a 35 percent jump from results in the same period the year before.
The global provider of alternative investments saw a 40 percent increase in fee income with a jump from USD236 million to USD329.5 million.
�As we enter our fourth decade, our plans to invest in our office network across the Gulf are well underway, with our Riyadh office expanded and new offices in Abu Dhabi and Doha pending regulatory approval. By being closer to our clients we believe we will strengthen our unique ability to raise money across the Gulf, the US and Europe and continue to drive returns for our shareholders and investors,� the company’s Executive Chairman and CEO, Nemir A. Kirdar, said.
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