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Highlights:
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Braveheart Investment Group PLC reported a profit after tax of £43,000 for the first half of the financial year, a significant recovery from a loss of £732,000 in the previous year.
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The company's net asset value (NAV) increased to £3.5 million, up from £3.3 million at the fiscal year-end, reflecting growth in the unconsolidated investment portfolio.
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Key developments in the portfolio include advancements in Paraytec Ltd rapid bacteraemia diagnostic instruments and a grant secured by Gyrometric Systems Ltd for wind turbine monitoring technology.
Braveheart Investment Group PLC (LSE:BRH) has reported positive financial results for the first half of its financial year, achieving a profit after tax of £43,000 for the six months ending September 30, 2024. This marks a notable turnaround from a loss of £732,000 during the same period the previous year. The investment company attributes this improvement to the implementation of operational efficiencies and a reduction in costs, including board fees. Annual fixed costs were decreased by approximately 20%. Chief Executive Trevor Brown stated that efforts will continue to enhance the value of investments and seek opportunities for increasing shareholder value.
The total unaudited value of Braveheart’s unconsolidated investment portfolio grew from £1.65 million at the end of March to £2.35 million by the half-year mark, resulting in a net asset value (NAV) of £3.5 million, an increase from £3.3 million at year-end. NAV per share was calculated at 5.42p at the end of September, up from 5.33p at the previous year-end, although it remains lower than 15.42p recorded a year ago.
The portfolio's value and NAV are primarily driven by strategic investments made since 2015, with prior investments written down to zero from £39,000 as of March. The listed portfolio includes stakes in companies such as Aukett Swanke Group PLC, Autins Group PLC, and Image Scan Group PLC.
In the unlisted segment, Paraytec Ltd continues to advance its CX300 instrument, focusing on innovative technologies for rapid bacteraemia diagnosis, with commercialisation plans set for 2025. Kirkstall Ltd, 86% owned by Braveheart, is developing the Quasi Vivo system to enhance drug safety testing without animal use. Additionally, Gyrometric Systems Ltd secured a £300,000 grant from Innovate UK for its patented shaft-monitoring technology, aimed at improving wind turbine reliability through a UK–US collaboration.
These developments reflect Braveheart’s ongoing commitment to enhancing the value of its investments and addressing key market opportunities.
