Bahrain's Arcapita incurs further loss in Q3

12 June 2010

Bahrain Islamic investment house Arcapita has reported its Q3 losses had more than doubled on a decline in income and foreign exchange losses, Reuters has reported. Net loss in the quarter ended March 31 was $160m, compared with $73m a year earlier, it said. Arcapita's income in the quarter fell by nearly 63% to $40m, while it said it incurred a net foreign exchange loss of $93m in the quarter, without elaborating. The quarterly loss was expected as Arcapita said in May it expected a sizable loss for its current financial year that ends June 30.

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