KKR & Co. L.P. (KKR) has reported a 455.88 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $179.31 million, or $0.35 a share in the quarter, compared with $32.26 million, or $0.07 a share for the same period last year.
Revenue during the quarter surged 56.36 percent to $481.48 million from $307.92 million in the previous year period.
Total expenses were $452.82 million for the quarter, down 13.76 percent or $72.28 million from year-ago period. Operating margin for the quarter period stood at positive 5.95 percent as compared to a negative 70.53 percent for the previous year period.
Operating income for the quarter was $28.66 million, compared with an operating loss of $217.17 million in the previous year period.
"We performed well in 2016 and progressed across our capital raising, investment performance, monetization and strategic initiatives," said Henry R. Kravis and George R. Roberts, co-chairmen and co-chief executive officers of KKR. "We generated $1.5 billion of After-tax Distributable Earnings for the year and our Fee Paying Assets Under Management grew 11%. Operating fundamentals across the firm remain strong, and we are encouraged by our momentum."
Investments stood at $31,409.76 million as on Dec. 31, 2016, down 51.90 percent or $33,896.17 million from year-ago.
Total assets stood at $39,002.90million as on Dec. 31, 2016. On the other hand, total liabilities were at $21,884.81 million as on Dec. 31, 2016.
Return on assets was at 1.65 percent in the quarter. At the same time, return on equity was at 0.63 percent in the quarter.
Debt remains almost stable
Total debt was at $18,544.08 million as on Dec. 31, 2016, down 0.91 percent or $170.52 million from year-ago. Shareholders equity was at $27,031.64 million as on Dec. 31, 2016. Meanwhile, debt to equity ratio was at 0.69 percent in the quarter.
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