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Katana Capital Limited (ASX:KAT), an Australia based asset management company which is managed by Katana Asset Management Ltd, and provides asset management services, has announced its half-yearly results for the period ended 31 December 2018.
During 1HFY19, there was an increase in the revenue from ordinary activities by 80.5% to $0.885 million. However, the company incurred a net loss after tax of $2.618 million. Besides, it declared the interim fully franked dividend of 0.25 cents per ordinary share.
The balance sheet of the company represented a fall in the net asset base from $41,283,992 as on 30 June 2018 to $37,676,896 by 31 December 2018. The shareholdersâ equity was worth $37,676,896.
There was a net cash inflow of $786,669 from the operating activities of the company. The significant cash inflow was driven by proceeds on the sale of financial assets, and interest received, dividends and distributions received as well as the revenue through other sources. If compared to the previous corresponding period, there was a fall in the operating cash inflow during this period due to increased payments to suppliers and employees as well as the revenue through the sale of financial assets.
In 1H FY2019, the cash outflow increased through the financing activities as the company paid a dividend as well as made payment for the buy-back of shares. By the end of the period, the net cash outflow from the financing activities was $1,059,639.
The period reported a fall in the cash and cash equivalent by $272,970. By the end of the period, the net cash and cash equivalent available with the company was $11,352,379.
On 13 February 2019, Katana Capital Limited provided notice regarding the unaudited Net Tangible Assets (NTA) per share after tax as at 31 January 2019. The company declared $0.90 NTA Backing per share after tax and the total net assets were worth $38.41 million.
By December 2018, the NTA Backing per share after tax was $0.880. It increased by 2.31% and reached $0.900 by January 2019. The NTA Backing per share before tax was $0.854 in December which grew by 3.20% and reached $0.881 by January 2019.
By 31 January 2019, the fund was holding approximately 39.8% in cash.
The Katana fund looks for investment opportunities across all sectors and market capitalizations. The key strategic goal of the fund manager is to look for such opportunities which will generate best risk adjusted return to preserve the capital. They encourage flexibility and adaptability within strong risk framework boundaries. The fund aims to combine best principles of value investing. Selection is based on the strategies which includes growth investing, fundamental analysis, technical analysis as well as the market observation.
Since its inception, the stock has generated a positive return of 106.89% as on 28 February 2019. However, in the last six months, the stock has made a negative return of 6.49%. The shares of Katana Capital Limited traded last on 25 February 2019 with the closing price of A$0.720. The company has a market capitalization of A$30.72 million with approximately 42.67 million outstanding shares.
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