Kinetic Growth Fund Limited (KGF) announced unaudited results for first six months of the 2016 financial year yesterday.

The KGF board chair Erik Larson remarked: “When we announced the name change, we indicated that the new company name reflects our focus on the energy of movement.

“This half year result having net assets increased by 8 per cent in twelve months shows that the company has continued to move forward in creating value for shareholders.”

The Group results include consolidation of subsidiary company, Oceanic Communications Limited.

However, Holding Company results are regarded as more meaningful for performance analysis of KGF

Highlights for the 6-month period compared with the corresponding period in 2015 includes:

The change of name to Kinetic Growth Fund Limited, as approved at the last AGM, was completed.

Revenue growth of 137 per cent at the holding company level and a 33 per cent increase for the group.

The net asset growth of 7 per cent was attributed mainly to unrealised capital gains in KGF’s equity portfolio and the consideration of 30,000 shares of Kontiki Finance Limited (current market value $48,000) for the change of name to Kinetic Growth Fund Limited.

Investee Company, Oceanic Communications Limited (OCL) has had a successful first half of 2016 financial year.

More importantly for KGF’s investors is that OCL has met all monthly accrued preference share dividend payments to KGF, providing the company with good cash flows.