Braveheart Investment Group PLC - Barnsley, South Yorkshire-based investor in small- and medium-sized businesses - Posts lower pretax profit in the financial year that ended March 31. Pretax profit shrinks to GBP1.5 million from GBP14.2 million a year ago, citing macroeconomic challenges. Total income falls to GBP2.9 million from GBP16.6 million. Earnings per share tumble to 3.10 pence from 36.30 pence.
More promisingly, investments at fair value surge to GBP4.7 million from GBP613,847 a year ago. Change in fair value of investments is positive GBP2.7 million, compared to negative GBP329,083 a year before. "We have entered our new financial year acutely aware of the geopolitical and macroeconomic challenges the world is facing. However, we are hopeful that this turbulence will also present interesting new investment opportunities and we will be positioned to respond as events unfold," Braveheart says.
Current stock price: 12.00 pence, up 4.4% on Thursday
12-month change: down 73%
By Tom Budszus; tombudszus@alliancenews.com
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Braveheart Inv (BRH)