January 30, 2013 / 5:10 AM / 5 years ago

Bahrain's Investcorp H1 net profit soars

DUBAI, Jan 30 (Reuters) - Bahrain-based alternative investment manager Investcorp said profits for the first half of fiscal year 2013 soared on the back of increased fee income and profitable exits at its investment portfolio.

Investcorp made a net profit of $39.2 million in the first half of fiscal year 2013, it said in a statement on Wednesday, compared with $5.2 million a year earlier.

Fee income for the period rose 80 percent to $147.6 million, Investcorp said, driven by strong acquisition and placement activity. (Reporting by Mirna Sleiman; Editing by Dinesh Nair)

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