Investcorp says H1 earnings up 53%, targeting 15-20% profit growth by 2019

February 3, 2014 8:18 am

Bahrain’s Investcorp Bank has said it is targeting average annual profit growth of 15-20% in the next five years after fiscal first-half net income jumped 53% to $60.1m, Bloomberg has reported. The investment firm, which is managing around $11.5bn, is looking at investments in the retail, healthcare, education, and downstream energy industries in the GCC region and Turkey, chief financial officer, Rishi Kapoor told reporters in Dubai. It’s also looking at investments in US real estate assets and in Europe. “We don’t focus on six-monthly results, we focus on a long-term horizon.” Kapoor said, “Over a five year period our growth expectations are around 15 to 20% a year.”