The 2011 results represent the third-best profit performance in the Firm’s history and continue the rebound to profitability and growth, which began in 2010. Earnings per ordinary share doubled to $128 per share, and the board of directors’ has approved the recommendation for resumption of dividend payments to ordinary shareholders of $15 per share.
The Executive Chairman and CEO, Nemir A. Kirdar and President of Gulf Business, Mohammed Al-Shroogi briefed the media and shared with them their thoughts on how the business performed last year, current markets and the year ahead. The Chief Financial Officer Rishi Kapoor was also present during the briefing.
Earlier, the firm held in its 28th ordinary general meeting the shareholders discussed and approved the board of directors’ and auditors’ reports on the Firm’s financial results for the Fiscal Year 2011 (FY 2011), the twelve months ending 30 June 2011, which were announced in August 2011.
Throughout 2011, Investcorp brought in more than $1 billion in proceeds from alternative investments, a fact that reflects the high quality of the firm’s investment portfolio and its success in supporting and managing these investments during the global financial crisis.
“Through this fund we invested in five opportunities four in the Gulf and one in Turkey. Investcorp will continue to tap the opportunities in the GCC and beyond,” Mohammed Al-Shroogi, said.
About Arab Spring, the panel said that it would not really affect the opportunities rather uncertainty and crisis usually create more opportunities.
Gross operating income in 2011 was $413.6 million, an increase of 15% over the previous fiscal year. Asset-based income grew by 52% with corporate investment, real estate investment and hedge funds all producing solid positive returns. The year was marked by a 67% rise in placement and fundraising in the Gulf and reached a total of $517 million. Against a background of low interest rates and the continuing high level of financial risk globally, this increase demonstrates the strong interest of Gulf investors in attractive alternative investment opportunities that offer diversification potential in the face of continuing macro-financial risks.
“Investcorp once again produced excellent results from all its diversified business activities on three continents. The high reputation of the Investcorp brand and our strong performance in our target markets are due to the superior skills and talents of our staff as well as the trust and respect afforded by our clients,” Nemir A. Kirdar, Executive Chairman & CEO, said.
“We have every reason to look forward to continued upward momentum and delivering further progress and achievements in the years ahead,” he added.
Investcorp has offices in the Kingdom of Bahrain, London and New York and is publicly traded on the Bahrain Bourse (INVCORP). As at June 30, 2011, Investcorp had $11.8 billion in assets under management.