KONTIKI FINANCE ANNOUNCE INTERIM DIVIDEND PAYOUT

Kontiki Finance Limited (KFL) announced the group’s unaudited results for the six months to December 31, 2020, and declared a three cents per share interim dividend.

Total assets under management grew to $263.5 million as at December 31, 2020, compared with $239.8m as at December 31, 2019, an increase of 10 per cent.

An increase

Net interest income for the six months to December 31, 2020, was $16.1m, compared with $14.4m for the same period the previous year, an increase of 11 per cent.

For the six months ending December 31, 2020, the group recorded a net profit after tax (NPAT) of $6.3m, an increase of 16 per cent from the $5.4m NPAT recorded for the same period the previous year.

Group earnings per share for the first six months was 6.8 cents per share, up from 5.9 cents per share in the same period previous year.

Net assets closed at $32.9m as at December 31, 2020, compared with $28.2m as at December 31, 2019, an increase of 17 per cent.

Liquidity

The group’s cash at bank and liquidity placements grew to $94.3m as at December 31, 2020, an increase of 17 per cent over the same period in the previous year. Chairman, Daryl Tarte, said: “Kontiki Finance Group performed well in the first six months to deliver a net profit after tax of $6.3m, after taking an additional $1.1m in loan provisions.

“We continued to assist customers who were still affected by the current economic situation with loan repayment holidays.

“In addition, our loan protection insurance product has assisted those KFL customers suffering involuntary unemployment.”

Mr Tarte said the result reflects the group’s investment in its people, technology and systems, and emphasis on cost control and prudent growth.

Looking forward

As a regional leader among financial institutions, looking forward, the group is well positioned for growth, with adequate loan provisions, strong liquidity and capital, he said Source: Kontiki Finance