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Bahrain’s Investcorp H2 profit slumps on global woes

Reuters Dubai- Bahrain-based investment bank Investcorp’s INVB.BH profit in the six months to June 30 fell to about a third of the year-ago period as asset-based income dropped on global economic woes.

The company, which generates most of its income from investing Gulf Arab wealth in the West, made $63.3 million in the period, down 71.5 percent from $222.49 million in the year-earlier period.

The Bahrain- and London-listed firm made net income of $151.1 million in the fiscal year to June 30 compared with $302.3 million in the previous fiscal year, it said in a statement on Thursday.

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