MANAMA, 27 July 2006 — Investcorp, the asset management firm specializing in alternative investments, yesterday announced a record net profit for the fiscal year ended June 30, 2006 of $130.8 million, an increase of 18.6 percent over the previous year’s reported net income of $110.3 million. Income before operating expenses was at $370.2 million. Investcorp’s board of directors has recommended a dividend payment of $40 million on ordinary shares, maintaining the level paid for the past three years.
GlaxoSmithKline
Profits Up 12.4%
Agence France Presse
LONDON — British pharmaceutical group GlaxoSmithKline said yesterday that its net profit jumped by 12.4 percent to 1.337 billion pounds (1.954 billion euros, $2.461 billion) during the second quarter of 2006. The result compared with the same period in 2005. Group revenue jumped 10.8 percent to 5.811 billion pounds in the three months ended June 30.
Boeing Suffers
$160 Million Loss
Agence France Presse
CHICAGO — US aerospace giant Boeing Company said yesterday it swung to a loss in the second quarter due to a legal settlement with the US government and cost delays in a surveillance aircraft order. Boeing said in a statement that it recorded a net loss of $160 million, compared with a net profit of $566 million for the same period a year ago.