Katana achieves stellar year

Sharp timing on commodities stocks has helped drive a strong result for investment manager Katana Capital, with a 187 per cent increase in revenue to $8.3 million, from $2.8 million the previous financial year.

Investment income was up more than four-fold to $7.2 million.

The company said it had been underweight in sectors that had underperformed, and had had a strong focus on financial stocks such as AMP.

Smaller stocks such as Yellow Brick Road Holdings and FSA Group had also been good performers.

Similarly, Katana said it had held strong during a dip in commodity stocks last year, which rebounded strongly at the start of the financial year.

Net profit was $6.2 million, resulting in earnings per share of 18 cents.

The company will pay out a dividend of 1.5 cents per share.

Katana was unchanged at 98 cents at the time of writing.