k1 Ventures full-year net profit increases more than five-fold

SINGAPORE - Full-year net profit at investment firm k1 Ventures, which is 36 per cent held by Keppel Corporation, was $140.6 million - a more than five-fold increase from a year ago.

This was due mostly to investment income from Knowledge Universe Holdings (KUH), a holding company that has various interests in education-related ventures.

Group revenue was $195.1 million for the year ended June 30 compared with $60.6 million in the prior year. This was driven by investment income from KUH of $174.9 million attributable mainly to the sale of its United States and international childcare operations.

Earnings per share was 32.45 cents for the full year, up from 5.76 cents the preceding year.

Net asset value per share was 48 cents as at Jun 30, from 49 cents on the same date a year ago.