Leading alternative financier remains on-track to achieve target US$5 billion gross turnover within the next three years, says chairman Kamel Alzarka
1st June 201 Falcon Group – an alternative finance provider based in London and the Middle East – achieved record post-tax profit in excess of US$27.5 million in 2011-2012 – an increase of more than US$7 million from the previous year’s profit. The figure represents the fourth consecutive year that the company’s bottom line has exceeded US$20 million. Gross turnover was in excess of $1 billion.
“Our latest figures demonstrate that we are on-track to achieve profit targets, as well as to reach target gross turnover of US$5 billion within the next three years. Additionally we achieved an increase of paid-up capital to US$60 million, which we are capable of further increasing to US$100 million by the end of this year,” says Kamel Alzarka, chairman of Falcon Group.
Alzarka adds: “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 US$1.2 billion 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.