Mubasher: Investcorp, a leading global provider and manager of alternative investment products, reported a 5% year-on-year increase in its profits for full-year 2019.
The company’s net income recorded $131 million during FY19, compared $125 million in FY18, according to Investcorp’s statement on Wednesday.
Similarly, gross operating income was $465 million in FY19 compared to $454 million last year.
Earnings per ordinary share were $1.47 for FY19, up 13% from $1.30 for FY18.
The Firm’s assets under management (AuM) levelled up by $1.9 billion to $28.2 billion during FY19.
However, Investcorp attributed its robust financial and operating performance to its continued progress in delivering on its strategic objectives of reaching AuM of $50 billion over the medium term via both organic and inorganic initiatives.
During full-year 2019, the firm adopted prevailing market practices for calculating AuM for the real estate business by considering the market value of the managed assets.
For the second half of the current fiscal year, net profits of Investcorp grew 4% to $73 million, from $70 million in H2-18.
“Our strong full-year results and ability to deliver on several strategic initiatives demonstrate Investcorp’s resilience and focus on strategic growth and profitability goals, despite various economic and geopolitical challenges,” Mohammed Alardhi, executive chairman of Investcorp, commented on the results.
