k1 Ventures full year profit up 6.7% to $150m

The company saw gains after selling its Guggenheim Capital stake.

k1 Ventures' net profit grew 6.7% from $140.6m to $150m for the year ended 30 June 2017 after it sold its stake in Guggenheim Capital LLC.

Net profit was driven by a fair value gain of $119m resulting from the revaluation of the Guggenheim Capital, LLC investment, income from the receipt of approximately 1.85 million additional Guggenheim common units, the divestment of the Group’s interest in KUE 3 LP, and investment income from Knowledge Universe Holdings LLC (KUH).

Revenue decreased from $195.1m to $94.2m, after a dip in investment income from Knowledge Universe Holdings (KUH).

Currently, K1 Ventures has a dividend per share of 6.5 S-cents.