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Wed 27 Jan 2010 09:35 AM

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Bahrain's Investcorp posts $60m net income

Finance firm says performance compares with $511m loss in previous year.

Investcorp, the Bahrain-based alternative asset management firm, has announced net income in the first half of its fiscal year 2010 was $60.2m, compared with a $511.1 million loss in the year earlier period.

The firm, which is listed in Bahrain and London, said cash liquidity at the end of the latest six month period stood at $800 million, while the capital adequacy ratio was 21.4%.

"The Group maintains access to sufficient on and off-balance sheet liquidity in order to meet the maturing debt and to ensure sufficient cash is available to fund private equity and real estate acquisitions, prior to syndication to clients," Investcorp said in a statement to the Bahrain bourse on Wednesday.

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