- Braveheart Investment Group said Tuesday first-half profits fell sharply as costs nearly doubled offsetting stronger revenues.

For the six months ended 30 September, profit before tax fell 41% to £0.113m from £0.191m a year earlier and revenue rose 28% to £0.397m.

Operating costs rose 91% to £0.395m, which the company blamed on previous period operating costs.

'This is a pivotal time for Braveheart. Growing prospects at Kirkstall, Paraytec and Gyrometric continue to excite the Board, while the investment portfolio, combined with our substantial cash continues to provide solid underpinning to our balance sheet, and developments in our fund management business offer a new source of fund management revenue in the next financial year,' said Trevor Brown, Chief Executive.

At 8:31am: [LON:BRH] Braveheart Investment Group PLC share price was -0.5p at 17p

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