K1 Ventures' full-year earnings up 6.7% at S$149.98m

A DIVESTMENT in Guggenheim Capital LLC boosted investment company K1 Venture's net profit for the year, which grew 6.7 per cent to S$149.98 million from S$140.57 million the previous year, the group said in a Singapore Exchange filing on Tuesday evening.

For the year ended June 30, revenue plummeted 51.7 per cent to S$94.16 million from S$195.08 million the previous year, due mainly to a decrease in investment income from Knowledge Universe Holdings LLC (KUH).

Earnings per share edged up slightly to 34.63 Singapore cents from 32.45 Singapore cents in the previous year. Net asset value per share expanded to 76 Singapore cents as at June 30, from 48 Singapore cent in the year-ago period.

A final dividend of 6.5 Singapore cents was proposed. The company did not propose a final dividend for the corresponding period of the previous year.

K1 Venture's shares closed half a Singapore cent or 0.7 per cent up at S$0.73 on Tuesday.