KFL Results Impacted by COVID-19

  • Jul 19, 2020 NZST
  • Team Kalkine
KFL Results Impacted by COVID-19

At the end of January, Kingfish Limited (NZX:KFL) was on track for a record year with net profit for the 10 months at $62 million, adjusted NAV up by 18% and Gross NAV was up by 22%. Two months later, the reported net operating profit after tax stood at $1.7 million and the adjusted NAV was down to 0.4%.

The key components of the full-year results were gains on investments of $1.6 million, dividend and interest income of $6.1 million less operating expenses and tax of $6.0 million.

Operating expenses were $3.2 million lower than the corresponding period as the prior year included a performance fee of $4.3 million paid to the Manager.

 


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