JEDDAH – Investcorp, a global provider and manager of alternative investment products, announced its first half fiscal 2014 (H1 FY14) results for the six months ended Dec.31, 2013 which showed that its profitability momentum continued with net income for the period up 53 percent to $60.1 million (H1 FY13: $39.2 million), it said in a statement Sunday. Nemir A. Kirdar, Executive Chairman & CEO, said: “Investcorp has reaffirmed the strength of its global franchise with a performance trajectory that continues to deliver consistently positive results for our investors. We continue to identify and secure a steady flow of attractive investment opportunities worldwide. In the last six months, we raised significant funds and completed deals in Europe, the US, the Gulf and most recently in Turkey, while launching new real estate and special opportunity portfolios. This investment activity has been balanced with a series of successful realizations, which have generated premium returns for our investors.” Gross operating income increased by 14 percent to $174.9 million (H1 FY13: $152.9 million) with fee income increasing by 16 percent to $171.0 million (H1 FY13: $147.6 million). The significant growth in fee income is also partly reflective of an improved macro-economic environment, with recovery in the US markets and more stability in Europe. Net income from the Group's fee business showed a very strong performance, rising by 24 percent in H1 FY14 to $74.3 million (H1 FY13: $59.8 million). — SG
