INVESTMENT income from k1 Ventures' portfolio company Knowledge Universe Holdings (KUH) boosted results for the investment holding company for its full financial year.
Earnings leapt 463.9 per cent to S$140.6 million from the previous year, the group said in a Singapore Exchange filing on Wednesday evening. It did not disclose a quarterly or half-year breakdown for net profit.
For the 12 months ended June 30, revenue rocketed 221.8 per cent to S$195.1 million from the year-ago period. The gain in revenue was due mainly to investment income from KUH, which came from receiving cash distributions from the sales of KUH's United States and international childcare operations, it said.
Out of the topline figure, second-half turnover accounted for S$92.19 million, it added.
Full-year earnings per share rocketed to 32.45 Singapore cents from 5.76 Singapore cents in the year-ago period. Net asset value per share dipped to S$0.48 as at June 30, from S$0.49 as at a year ago.
The group said that its board has determined that k1 "will not be making any new investments, but will focus its efforts on managing the current portfolio of assets and, at the appropriate time, realising such assets".
Similar to the previous year, it proposed no final dividend but did propose a capital distribution of 7.5 Singapore cents per share.
k1 Ventures shares closed flat at S$0.885 on Wednesday.