Wednesday 27 January 2010
Investcorp swings to H1 net profit on hedge funds
Bahrain- and London-listed Investcorp INVB.BH (INVBq.L) swung to a first-half net profit as its hedge fund business recovered from the financial crisis.
On Wednesday, the investment house said net profit in the six months ended Dec 31. was $60.2 million, after a $511 million net loss a year ago.
It said its hedge fund business posted income of $96.6 million in the first half versus a loss of $398.1 million.
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