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Bahrain’s Investcorp slipped into a $165 million loss for the 12 months ended June 30, against profits of $131 million a year ago.
The COVID-19 played its part in the loss, as fee income contracted 23 per cent to $288 million from $376 million. “Despite reduced fee income, the increased reliance on - and stability of - recurring fee income helped to cover operating expenses,” the company said in a statement.
The ensuing “recession” also impacted on asset-based income, which recorded a $100 million loss from an $89 million profit. It was attributed to “fair value declines” related to a number of assets operating in “secularly challenged industries”, retail being one of them.
Bahrain-based Investcorp, a leader in alternative investment, said that its portfolio company Calligo, a global end-to-end managed data services provider, has acquired Itomic Voice & Data, a Cork and
Investcorp, a global provider and manager of alternative investment products, reported an aggregate net income of $125 million for the year ended June 30, 2018 (FY 2018), an increase of 4% year-on-ye
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Aramex, a leading provider of logistics and transportation solutions, has registered a 4 per cent growth in its revenues for the second quarter which surged to hit AED1.32 billion ($359 million), com
Abu Dhabi based investment company Waha Capital recorded a net loss of Dh27.2 million - attributable to shareholders - for the first six months of 2020, an improvement on the Dh124.38 million it rec
First Abu Dhabi Bank (FAB), recently announced the issuance of the largest-ever Chinese Yuan (CNH) denominated dual-listed Formosa bond globally, with a CNH 3.25 billion five-year issuance.
The Gulf Today
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