A leading alternative financier remains on-track to achieve a target $5bn gross turnover within the next three years, says chairman Kamel Alzarka.
Falcon Group – based in London and the Middle East – achieved record post-tax profit in excess of $27.5m in 2011-2012 – an increase of more than $7m compared with the previous year. The figure represents the fourth consecutive year that the company’s bottom line has exceeded $20 million. Gross turnover was in excess of $1bn.
“Our latest figures demonstrate that we are on-track to achieve profit targets, as well as to reach target gross turnover of $5 billion within the next three years. Additionally, we achieved an increase of paid-up capital to $60m, which we are capable of further increasing to $100m by the end of this year,” said Alzarka.
He added,“Our ability to both innovate and seize opportunities where others experience constraints means that the economic environment continues to allow us to further develop the business model and grow the company. Indeed, as banks continue to re-capitalise their balance sheets, Falcon has been stepping into this funding breach, providing sophisticated structured solutions and winning new business in existing and new markets.”
The company currently finances transactions worth over $1.2bn involving businesses primarily based in South-East Asia, the Middle East and South America. The client base is diverse, covering both hard and soft commodities, telecommunications, consumer goods, semi-capital goods and more.