StockMarketWire.com - Braveheart Investment Group reports a good performance and output from its fund management business in the year to the end of March.

Envestors Ltd was sold to a management buy-out team on 13 December.

Excluding unrealised portfolio movements, the profit before tax for continuing operations was £1,000 (2013: loss of £120,000). The total profit after tax and amounts attributable to non-controlling interests for continuing operations decreased to £15,000 (2013: £186,000).

Discontinued operations net loss for the year was £823,000 (2013: loss of £119,000).

The profit from continuing and discontinued operations was £38,000 in H2 (H1: loss of £845,000), the improvement in H2 being largely due to the disposal of Envestors Ltd.

Chief executive Geoffrey Thomson said: "This year has seen good performance and output from our fund management business, the launch of an exciting new fund (Crowdcube Venture Fund) and the divestment of our loss making corporate finance business (Envestors). We have made steady progress with our directly held portfolio and market sentiment for realisations is improving with some weighty valuations for early stage technology company acquisitions being seen in the public markets.

"The financials show a disappointing first half, due in the main to the disposal noted above, but we returned to profitability in the second half. The business is now less volatile and current year's trading is more consistent with what we saw in the second half of last year."






At 8:23am: [LON:BRH] Braveheart Investment Group PLC share price was 0p at 10.5p



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