SINGAPORE (Aug 1): k1 Ventures, the investment holding company which Temasek Holdings holds a deemed stake of 36.04%, posted a 6.7% rise in FY17 earnings ended June of $150 million, or earnings per share of 34.63 cents, compared to $140.6 million in the previous year. Group profit before tax was $162.9 million compared to $144.4 million in the previous year.
The increase was mostly due to a fair value gain of $119.0 million recorded from the divestment of US financial services firm Guggenheim Capital LLC, pre-tax profit of $28.2 million from the divestment of the group’s interest in KUE 3 LP, investment income from the receipt of 1.85 million additional Guggenheim common units, and an exchange loss recorded in the prior year of $19.9 million related to the voluntary liquidation of Focus Up Holdings.
Group revenue for the 12 months ended June came in at $94.2 million compared to $195.1 million in the prior year due mainly to a decrease in investment income from Knowledge Universe Holdings LLC (KUH), a holding company that has various interests in education-related ventures.
