- Capital for Colleagues reported a rise in net assets in the first half of the year on the back of an increase in the value of its investments in the tech sector.

For the six months ended 28 February, the company saw net assets rise to £7.4m from £6.4m a year earlier, as income jumped to £198,000 from £138,000 a year earlier.

The increase in value of its investments reflected the revaluation of its investments in the Technology sector. The reported profit for the period of £585,000 was driven by the unrealised gains arising from these revaluations, the company said.

Looking ahead, the company said that while ongoing uncertainty around Brexit continued to have some impact on the wider economy, management were 'confident that the breadth and quality of the Company’s portfolio will ensure that our investments will continue to prosper.'

'We continue to promote the commercial and financial benefits of Employee Owned Business at every opportunity and are pleased to see increasing recognition of Employee Owned Business as important generators of equitable and dynamic growth,' it added.

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