Steep dive in earnings at k1 Ventures
k1 Ventures' second quarter net profit dived by 97.5 per cent to $741,000.
Revenue shrank 57.1 per cent to $20.8 million for the three months to Dec 31.
The fall was driven by a decrease in investment income attributable to Knowledge Universe Holdings.
Group operating profit slumped to $3.4 million from $32.2 million in the previous corresponding period, owing to a fall in investment income and an increase in depreciation at Helm due principally to the acquisition of rail assets and locomotive upgrades.