Highlights

  • Net profit for six months ended 30 September 2025 reached NZD 16.4m.
  • 10 out of 15 portfolio companies delivered positive returns during H1 2025.
  • Adjusted NAV return after fees and tax recorded at 3.5%.

Kingfish Limited (NZX:KFL) announced a net profit of NZD 16.4m for the six months ended 30 September 2025, representing a 61.7% decline compared with the same period in 2024. Total revenue for the period was NZD 20.0m, down 56.9% year-on-year.

Dividends
The board declared a dividend of 2.70 cents per share, payable on 19 December 2025 with a record date of 5 December 2025. During the six-month period, 5.48 cents per share was distributed to shareholders in accordance with the company’s distribution policy.

Portfolio Performance
Investment gains for the period amounted to NZD 14.1m, with dividend and interest income of NZD 5.9m, offset by operating expenses and tax of NZD 3.6m. The portfolio’s gross performance return before fees and expenses was 4.3%, while the adjusted NAV return was 3.5%, compared with the S&P/NZX50G Index, which increased 8.3% over the same period.

Net Tangible Assets
Net tangible assets per quoted equity security were NZD 1.3403, slightly down from NZD 1.4138 in the prior comparable period.

Outlook and Context
The results reflect the operating environment in New Zealand, where economic activity remains subdued across many sectors, with some stabilization observed in recent months. Despite this, Kingfish continued to make distributions in line with its stated policy and recorded positive returns across most portfolio holdings.

Share Price Snapshot

KFL was trading NZD 1.32 per share as of 24 November 2025.