Last checked at 
LONDON (Alliance News) - Braveheart Investment Group PLC said profit is in line with its expectations for its 2017 financial year, in a statement ahead of the company's annual general meeting on Tuesday.
The company said it achieved "modest profitability" during its first quarter, and is on track to generate profit in its 2017 financial year, ending March 31.
The investment fund management company, specialising in small and medium UK businesses, said it has commenced the implementation of its "new direct investment strategy". This has included investments in Paraytec, a UK company producing scientific instruments used for the analysis of particles in drug development, and Kirkstall, a UK company producing systems used in the laboratory testing of drugs on living cells.
"Having completed the group's re-organisation and cost-saving program, we are now firmly focused on growing and developing group businesses by deploying our capital, and submitting bids for the management of new venture capital funds with the aim of generating positive shareholder returns," said Jeremy Delmar-Morgan, Braveheart chairman.
Shares in Braveheart were untraded Thursday, having last traded at 5.00 pence.
By Lucy Heming; lucyheming@alliancenews.com
Copyright 2016 Alliance News Limited. All Rights Reserved.