Ann: FLLYR: KFL: Another strong result for Kingfi

• Release Date: 29/05/14 17:06
• Summary: FLLYR: KFL: Another strong result for Kingfish
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					KFL
29/05/2014 15:06
FLLYR

REL: 1506 HRS Kingfish Limited

FLLYR: KFL: Another strong result for Kingfish

Kingfish Limited
 Results for announcement to the market

Reporting Period 12 months to 31 March 2014
Previous Reporting Period 12 months to 31 March 2013

The financial statements attached to this report have been audited by
PricewaterhouseCoopers and are not subject to a qualification. A copy of the
Auditor's Report applicable to the financial statements is attached to this
announcement.

 Current period NZ$000,  Up/(Down) %,  Previous corresponding  Period NZ$000
Total net income from ordinary activities 31,553, (3%), 32,576
Profit from ordinary activities after tax attributable to security holders
26,448, 0%, 26,476
Net profit attributable to security holders 26,448, 0%, 26,476

Dividend
 Kingfish will pay a partially imputed quarterly dividend of 2.66cps as part
of its distribution policy.

Ex-Dividend Date 11 June 2014
Record Date 13 June 2014
Dividend Payment Date 27 June 2014

 Audited net asset value per share 31 March 2014: $1.36

For immediate release:

29 May 2014

Another strong result for Kingfish

o Net profit $26.4m
o Total Shareholder Return* +18.9%
o Adjusted net asset value* per share +18.1%
o 10.3cps paid in dividends

NZX-listed investment company Kingfish Limited (NZX: KFL) today announced a
net profit for the 12 months to 31 March 2014 of $26.4 million. This result
reflects outperformance by portfolio companies and a positive New Zealand
share market backdrop (NZX50 Gross Index up 16.2%). This result follows last
year's equally strong net profit of $26.5 million.

The result includes gains on investments of $26.7m, dividend and interest
income of $4.8m less operating expenses and tax of $5.1m.

Adjusted net asset value (NAV)* per share increased 18.1% for the year ended
31 March 2014. Since Kingfish's inception in March 2004, adjusted NAV*, which
reflects the underlying performance of the Kingfish portfolio, has increased
132%, well ahead of the NZX50 Gross Index which is up 98% over the same
period.

Kingfish's Total Shareholder Return (TSR)* was 18.9% for the year ended 31
March 2014 and up 134% since inception.

In accordance with Kingfish's quarterly distribution policy (2% of average
NAV per quarter), the company paid a total of 10.3 cents per share to
shareholders during the year ended 31 March 2014. On 29 May 2014, the Board
declared a dividend of 2.66 cents per share to be paid on 27 June 2014 with a
record date of 13 June 2014.

In accordance with the Management Agreement, and in addition to the normal
management fee, Kingfish's Manager, Fisher Funds, earned a performance fee
for achieving a return for the year in excess of the Bank Bill Index plus 7%
and above the High Water Mark (the highest NAV at the end of the previous
financial year in which a performance fee was paid, adjusted for changes in
capital).

Kingfish Chairman Alistair Ryan said: "The 2013/14 financial year has been
another excellent year for Kingfish with the portfolio continuing to produce
strong returns for shareholders."

Changes to the Kingfish portfolio included the addition of EBOS Group while
Pumpkin Patch, Fonterra Shareholders' Fund and TOWER were realised. The total
number of investments currently stands at 17 stocks.

Portfolio Manager Murray Brown said:  "We sold three portfolio companies
during the year and took the opportunity to increase our investment in
existing companies to finish the year 93% invested."

Mr Brown added: "We are aware of many potential new listings coming to the
NZX due to buoyancy in the share market. As always, we will put these
companies through our tried and tested STEEPP model to see if they meet our
quality criteria to become portfolio companies."

For further information please contact:

Carmel Fisher
Managing Director
Fisher Funds Management Limited
Tel: (09) 484 0342

About Kingfish
Kingfish is a listed investment company that invests in growing New Zealand
companies. The Kingfish portfolio is managed by Fisher Funds, a specialist
investment manager with a track record of successfully investing in growth
company shares. Fisher Funds and its related entities currently have over $5
billion of funds under management. The aim of Kingfish is to offer investors
competitive returns through capital growth and dividends, and access to a
diversified portfolio of investments through a single tax-efficient
investment vehicle. Kingfish listed on the NZX Main Board on 31 March 2004
and may invest in companies that are listed on the NZX Main Board, NZX
Alternative Market or unlisted companies.       /ends
End CA:00251026 For:KFL    Type:FLLYR      Time:2014-05-29 15:06:09