k1 Ventures posted a net profit of $0.80 million for the first quarter ended Sept 30, 2012, compared to a net loss of $0.88 million in the year-ago period.
For the quarter, k1 registered an operating profit of $2.34 million, compared with an operating loss of $0.91 million last year.
The improvement in operating results was lead by higher sales and a reduction in k1's subsidiary Helm's operating expenses, including lower depreciation and amortisation.
Group revenue rose 29.3% to $19.9 million on gains from its transportation leasing-related activities and proceeds from the sale of investments.
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