K1 Ventures Q2 net profit surges to S$30.9m

K1 Ventures posted a net profit of S$30.9 million from continuing operations for the second quarter ended Dec 31, 2014, up from S$561,000 in profit from continuing operations in the corresponding period a year ago.

Revenue for the same period stood at S$51.5 million, up from S$2.8 million the same period a year ago.

For the six-month period, net profit from continuing operations almost doubled to S$33.9 million, while revenue stood at S$54.4 million, more than doubling from S$25.3 million.

Earnings per share for the group on a continuing operations basis stood at 1.43 Singapore cents and 1.57 Singapore cents for the quarter and six-month period, respectively, up from 0.03 Singapore cents and 0.88 Singapore cents during the corresponding periods the year before.

The group declared an interim dividend of 1.5 Singapore cents per share. It had not proposed any dividend for the same period in the previous year.

The counter closed unchanged at 18.8 Singapore cents on Friday.