ADX-listed Investcorp Capital, a provider of capital and capital financing services in the alternative investments space, has reported a net profit of $21 million for the period between July and December 2023, in its first results following its market debut in November.
The company had recorded a net profit of $41 million for the same period the year before.
The firm explained the drop as a result of a decline in revenue from capital deployment – $19 million against $32 million – and against a “challenging market backdrop”, the company said in a statement.
Investcorp Capital’s financial year runs the 12 months to end June. However, last November, it made its debut on ADX, offering 32.85 per cent at Dh2.3 apiece in the $450 million issue.
The investment company announced an interim dividend of 10 fils a share, which it says represents a 9.6% annualized dividend yield based on the current traded price of Dh2.09.
“Investcorp Capital is unique in the GCC, offering investors access to diversified private market opportunities globally across multiple asset classes and an attractive 9.6 per cent target dividend yield,” said Mohammed Bin Mahfoodh Alardhi, Chairman of Investcorp Capital.
