10.08.2015, 09:29
QInvest has reported strong growth across the board ending the first half of 2015 with revenues up 40%
OREANDA-NEWS. QInvest has reported strong growth across the board ending the first half of 2015 with revenues up 40% and net profit increasing 86% compared to the same period in 2014.
Revenue for the first six months of 2015 increased 40% to QR195.6mn (\\$53.7mn), compared to the QR139mn (\\$38.3mn) recorded in 2014. Net profit for the same period saw an 86% growth to QR88.7mn (\\$24.4mn) from QR47.6mn (\\$13mn) in 2014.
“Despite these strong results, QInvest continues to monitor its investments carefully, given the challenges that markets still represent going forward,” said QInvest CEO Tamim Hamad al-Kawari.
He added, “During the first half of 2015, we generated strong performance, despite the on-going volatility across global markets. Profits generated in the past six months alone exceeded those in the year 2014.
“We continued to source new opportunities, strengthen our brand, and deliver positive returns. We also remained absolutely focused on executing our exciting pipeline of deal flow, taking advantage of our unique market position to leverage opportunities, and deliver value for clients and shareholders alike.”
During the same period, all three of QInvest’s revenue-generating business lines - investment banking, principal investments, and asset management - continued to cultivate new business and develop existing relationships, al-Kawari noted.
In the investment banking division, the structured finance business closed nine transactions deploying QR946.8mn (\\$260mn), of which QR182mn (\\$50mn) was syndicated. Al-Kawari said QInvest has continued to actively work on mandates for both sovereign and corporate entities, which the team expects to execute in the second half of the year. Moreover, the mergers and acquisitions team remained active, most notably benefiting from international transaction flows.
Revenue for the first six months of 2015 increased 40% to QR195.6mn (\\$53.7mn), compared to the QR139mn (\\$38.3mn) recorded in 2014. Net profit for the same period saw an 86% growth to QR88.7mn (\\$24.4mn) from QR47.6mn (\\$13mn) in 2014.
“Despite these strong results, QInvest continues to monitor its investments carefully, given the challenges that markets still represent going forward,” said QInvest CEO Tamim Hamad al-Kawari.
He added, “During the first half of 2015, we generated strong performance, despite the on-going volatility across global markets. Profits generated in the past six months alone exceeded those in the year 2014.
“We continued to source new opportunities, strengthen our brand, and deliver positive returns. We also remained absolutely focused on executing our exciting pipeline of deal flow, taking advantage of our unique market position to leverage opportunities, and deliver value for clients and shareholders alike.”
During the same period, all three of QInvest’s revenue-generating business lines - investment banking, principal investments, and asset management - continued to cultivate new business and develop existing relationships, al-Kawari noted.
In the investment banking division, the structured finance business closed nine transactions deploying QR946.8mn (\\$260mn), of which QR182mn (\\$50mn) was syndicated. Al-Kawari said QInvest has continued to actively work on mandates for both sovereign and corporate entities, which the team expects to execute in the second half of the year. Moreover, the mergers and acquisitions team remained active, most notably benefiting from international transaction flows.
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