K2 AM reduces loss

Boutique asset manager, K2 Asset Management has projected a return to profitability on the back of a 166% increase in revenue in FY24.

The promise of a return to profitability came as the company reported that its net loss for the 12 month period had decreased by 67%.

Delivering its results to the Australian Securities Exchange (ASX) the company said the Board’s primary focus was a return to delivering dividends to shareholders in 2025.

“Although a net loss was recorded, it was a significant improvement from the previous totalling a loss of $0.6 million,” it said.

The ASX announcement said the company intended to continue to build sustainable revenue across three core pillars – Responsible Entity, Trustee and Administration Services, Funds Management and Exchanged Traded and Listed Fund Services.