- Braveheart Investment Group swung into the black in the year to the end of March with a pre-tax profit of £68,000 compared with a loss of £1.7m last time.

Investment management and consultancy fee income increased 139% to £3,020,000 (2012: £1,265,000).

Chairman Jeremy Delmar-Morgan said: "It's very pleasing to see the progress achieved in the year. The directors are focussed on growing the fund management business further and realising the value in the investment portfolio."

Chief executive Geoffrey Thomson added: "The year saw a good strong increase in turnover and a modest profit. We are particularly pleased with the fund management side of the business and the prospects in our investment portfolio."

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