Bahrain's Investcorp annual profits surge 56%

The firm, which previously took Gucci and Tiffany public, saw fees rise 40 percent

Bahrain-based alternative investment manager Investcorp reported a 56 percent rise in full-year net income on Tuesday, aided by strong growth in fee income.

Investcorp, which expects to fully invest its $1bn Gulf fund in 2013, made a net profit of $104.9m in fiscal year 2013 ended in June, compared with $67.4m in the previous year.

Profit growth was driven by "a very strong increase in deal activity fees", Rishi Kapoor, Investcorp's chief financial officer, told reporters.

Fee income at the company, which previously took luxury brands Gucci and Tiffany public, rose 40 percent to $329.5m, Investcorp said at a news conference in Dubai.

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

NOTE: Comments posted on arabianbusiness.com may be printed in the magazine Arabian Business

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
First bank merger in 20 years sets Saudi Arabia up for more deals

First bank merger in 20 years sets Saudi Arabia up for more deals

Q&A look at what the planned merger of HSBC and RBS’s Saudi ventures...

A natural move: How Dubai Chamber is strengthening its ties in Latin America

A natural move: How Dubai Chamber is strengthening its ties in Latin America

With vast resources and more than half-a-billion people, the...

If Saudi future's so bright, why can't these banks find buyers?

If Saudi future's so bright, why can't these banks find buyers?

No big-name global banks eager to buy stakes in Saudi banks,...

Most Discussed
sponsoredTracking