(Alliance News) - Braveheart Investment Group PLC on Monday said revenue tripled and its portfolio valuation multiplied in the six months ended September 30, due to an increase in the investment value of PhaseFocus Holdings Ltd.
The investor in small and medium-sized businesses based in Barnsley, England reported that its revenue in the six months ended September 30 more than tripled to GBP3.4 million from GBP895,000, year on year.
Pretax profit multiplied to GBP2.8 million from GBP449,157 in the same period the year before.
Braveheart Investment declared that it was not paying an interim dividend and would give consideration of the payment when the full-year results are known.
The valuations of the company's portfolio multiplied to GBP4.4 million from GBP820,000 at the end of March. The company attributes this to a rise in investment value in PhaseFocus. The London-based company specialising in imaging techniques achieved its highest number of sales in a six month period in the half-year.
Braveheart increased its book value for its holding in PhaseFocus to GBP3.6 million from GBP437,000.
"The directors are excited by the future prospects of the businesses and the potential value realisation events which lie ahead. We hope a clearer picture will emerge over the remainder of the financial year and as always, we will update shareholders as events unfold," Chief Executive Trevor Brown said.
Shares were down 0.6% at 27.35 pence on Monday afternoon in London.
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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Braveheart Inv (BRH)