Wednesday 14 September 2011

Bahrain's Arcapita swings to FY profit | Reuters

Bahrain-based investment firm Arcapita swung to a profit in its fiscal year ended June 30, it said on Wednesday, helped mainly by multiple exits or disposals of assets in its investment portfolio.

The Islamic investment firm recorded net income of $50.2 million compared with a loss of $560 million for the year before.

Arcapita said it completed seven full and partial exits during the year, returning about $1 billion to the firm and its shareholders.

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