Investcorp on top after spate of dealmaking
INVESTCORP, the company that bought gourmet snack Tyrrells Crisps last year, yesterday reported a big rise in profits after Gulf investors put more money into its funds.
The Bahrain-based businesses, which once owned Gucci, reported a 53 per cent rise in profits for the six months ending December to $60.1m (£36.5m) versus the first half of 2013.
Chief executive Nemir Kirdar said: “Investcorp has reaffirmed the strength of its global franchise with a performance trajectory that continues to deliver consistently positive results for our investors.”
Tyrrells was part of a $445m spending spree over the period. It made $900m from selling companies as well.
This did not include the sale of two UK investments, Skrill Group and TDX Group, which will complete in the next three months.