Ann: HALFYR: KFL: Kingfish delivers strong interi

• Release Date: 19/11/13 16:53
• Summary: HALFYR: KFL: Kingfish delivers strong interim result
• Price Sensitive: No
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					KFL
19/11/2013 14:53
HALFYR

REL: 1453 HRS Kingfish Limited

HALFYR: KFL: Kingfish delivers strong interim result

Kingfish Limited
 Results for announcement to the market

Reporting Period 6 months to 30 September 2013
Previous Reporting Period 6 months to 30 September 2012

The interim financial statements attached to this report have been reviewed
by PricewaterhouseCoopers and are not subject to a qualification.  A copy of
the accountants' report applicable to the interim financial statements is
attached to this announcement.

See attached table.

Dividend
 Kingfish will pay a partially imputed quarterly dividend of 2.61cps as part
of its long term distribution policy.

Ex-Dividend Date 4 December 2013
Record Date 6 December 2013
Dividend Payment Date 20 December 2013

NAV per share 30 September 2013: $1.31

For immediate release:
19 November 2013

Kingfish delivers strong interim result

o Interim 2013 net profit $14.9m (interim 2012: net profit $11.5m)
o Total shareholder return* +13.1%
o Adjusted net asset value* per share +9.3%
o 5.04 cents per share in dividends paid during the period

NZX-listed investment company Kingfish Limited (NZX: KFL) today announced a
net operating profit for the six month period ended 30 September 2013 up 30%
at $14.9m (interim 2012: net profit $11.5m).

The result includes gains on investments of $14.0m, dividend and interest
income of $2.4m less operating expenses and tax of $1.5m.

Kingfish's key performance ratios show a total shareholder return (TSR)* of
13.1% and a growth in adjusted net asset value (NAV)* of 9.3% versus the
NZX50 Gross Index which rose 7.1% in the period.

Since inception in March 2004, Kingfish's adjusted NAV* has more than doubled
(up 114.4%), significantly ahead of the NZX50 Gross Index which is up 82.7%
during the same period.

In accordance with company's distribution policy (2.0% of average NAV per
quarter), a total of 5.04 cents per share was paid to Kingfish shareholders
during the six months ended 30 September 2013. On 19 November 2013, the Board
declared a dividend of 2.61 cents per share to be paid to shareholders on 20
December 2013 with a record date of 6 December 2013.

Kingfish's Chairman, Alistair Ryan, said: "It is pleasing to note the
positive performance of the Kingfish portfolio both in the short-term and
over an extended period of time."

Portfolio Manager, Murray Brown, said: "In line with other world equity
markets, the New Zealand share market continues to march steadily upwards and
is now trading well above its long run average market multiple."

Mr Brown added: "Notwithstanding the valuation backdrop, we continue to
believe a hand-picked portfolio of quality companies with strong, competitive
moats around their businesses should still perform well and we are on a
constant lookout for such companies. We believe our STEEPP process has stood
us in good stead, avoiding many of the 'potholes' that come up along the
investment journey."

For further information please contact:

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

*Adjusted NAV and total shareholder return assume all dividends are
reinvested, but exclude imputation credits

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:00244015 For:KFL    Type:HALFYR     Time:2013-11-19 14:53:39