Investcorp reports 12 per cent rise in net income

Investcorp yesterday announced its fiscal half-year results for the six months ending December 31, 2015 reporting a 12 per cent growth in its net income for the period to $50.9 million (H1 FY15: $45.3m)

According to the global provider and manager of alternative investment products, the increase was driven by continued strong transactional activity and placement momentum and solid asset-based returns on the Firm’s portfolio of co-investments. Fully diluted earnings per share for the period was in line with the previous year at $0.71 per share. Return on equity for the period was 12pc on an annualized basis.  

Fee income for the period was $134.7m compared with $156.7m in H1 FY15. Overall, gross operating income for H1 FY16 was up 16pc to $178.4m. Operating expenses increased 14pc to $89.0m. 

The balance sheet remains well capitalized with total assets as at December 31, 2015, at $2.3 billion, up from $2.2bn as at June 30, 2015. Total liquidity remains strong at $0.7bn.  The Bank’s capital adequacy ratio, at 28pc, is more than double the requirements of the Central Bank of Bahrain (12.5pc). 

Looking ahead, Mohammed Al Ardhi, Executive Chairman said the company would continue to provide attractive alternative investment opportunities in the Gulf, in Europe and in the US.