StockMarketWire.com - Braveheart Investment Group posts a pre-tax loss of £1.7m for the year to the end of March - up from £768,000 in 2015.
Net assets at 31 March 2016 were £1,705,000 (2015: £3,388,000), equivalent to 6.30 pence per share (2015: 12.52 pence) the decrease reflecting trading results.
Total income for the year ended 31 March, including realised gains and unrealised revaluation gains and losses, was £196,000, a decrease from £1,143,000 in 2015.
The average number of employees decreased by 5 during the period under review.
Employee benefits expense was £1,001,000 (2015: £1,394,000), including redundancy and loss of office costs of £178,000. Other operating and finance costs were broadly the same at £516,000 (2015: £518,000).
A goodwill impairment loss of £372,000 (2015: £nil) was recorded against Viking Fund Managers.
Excluding unrealised portfolio movements and contingent consideration, the loss before tax was £610,000 (2015: profit of £177,000)
At the year end the group had cash balances of £1,263,000 (2015: £503,000). There were no material borrowings.
At 9:11am: [LON:BRH] Braveheart Investment Group PLC share price was 0p at 8.13p
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