QInvest profits beat last year but lag 2015

Qatar-based investment firm QInvest recorded a net profit equivalent to $9.5 million in the first half of the year, more than the corresponding figure for the whole of 2016.

However, the half-year figure was less, on an averaged basis, than in 2015, when the firm recorded a full-year profit of $42 million.

The firm, which is involved in investment banking, private equity and asset management, registered a modest rise in overall assets to $1.3 billion, an increase of less than 1% compared with 2016.

“We remain prudent in our management of risk and have built up a strong liquidity position and an underleveraged balance sheet while also continuing to invest in key global markets on an opportunistic basis,” said Tamim Hamad Al-Kawari, chief executive.

QInvest’s achievements in the first half of the year including advising a Qatari firm on a $220 million investment into a Turkish retailer and acting as bookrunner on several sukuk issuances.

©2017 funds global mena

Related Articles