Reuters – Alternative investment manager Investcorp reported a 90-percent drop in half-year profits on Monday, hit by declining hedge fund revenues.
The Bahrain-based firm, which once floated luxury brands Gucci and Tiffany & Co, said net profit was $5.3 million for the half-year ended Dec. 30, compared to $56.2 million in the prior-year period. Investcorp’s fiscal year ends June 30.
