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k1 Ventures' full year net profit dives 77% to $12.8 million

Published on Aug 14, 2014 10:00 PM

SINGAPORE - Transportation leasing and investment company k1 Ventures has reported a 77 per cent plunge in full year net profit to $12.8 million, dragged down by its disposal of a unit, Helm.

If discontinued operations like Helm were not included, its profit would have come in at $20.1 million.

The firm said the loss from the sale of Helm included a foreign currency translation loss of $54.9 million.

Revenue for the full year fell 67 per cent to $31.6 million due to a decrease in investment income, as well as the sale of its investment MMR that lifted revenue in the previous year.

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