Mubasher: Investcorp achieved a growth of 16% in profits during the first half ended on 31 December 2017 compared to the same period a year ago, according to a recent bourse statement.
Earnings increased to $55.3 million in the first six months ended on 31 December 2017 compared to $47.7 million in the corresponding period in 2016.
The growth in profits during the first half is attributed to continued strong transactional activity, the statement added.
Investcorp’s earnings per share rose by 8% to $0.70 per share during the first half ended on 31 December 2017 compared to $0.65 per share in the same period last year.
The Bahrain Bourse-listed company said that a return on equity remained flat at 9% on an annual basis.
Fee income for the period grew by 7% to $137.5 million when compared to $128.0 million in the same six months in 2017.
“Investcorp remains well capitalized with total assets as at December 31, 2017, at $2.7 billion and a capital adequacy ratio of 30%, which is more than double the requirements of the Central Bank of Bahrain (12.5%),” the statement said.