Shares of Braveheart Investment (LON: BRH) are climbing after the company reported a profit for the year ended 31 March.
The AIM-listed firm reported a pre-tax profit of £14.2 million after the company cashed in on Pharm 2 Farm and Remote Monitored Systems investments. In 2020 the Braveheart reported a loss of £575,000.
Total income for the year was £16.56 million, compared to £307,000 in 2020.
“Our Group strategy continues to be to apply the Board's expertise and financial resources (at the year-end, we held £2,142,866 cash on the balance sheet), to those businesses which the Board consider have the greatest potential for outperformance,” said Chief Executive Trevor E Brown.
“In the year under review and since the year end we have continued to develop our Strategic Investments. In particular, we have funded Paraytec Limited to develop the COVID-19 test. The company now holds investments in five Strategic Investments,” added Brown.
The five strategic investments Brown referred to are in Phasefocus Holdings Limited, Paraytec Limited, Sentinel Medical Limited, Kirkstall Limited, and Gyrometric Systems Limited.
The group now has net assets of £2.56 million, rising from £1.77 million the previous year.
Braveheart's share price is currently trading at 45.3p, up 1.8%. The company's stock has gained over 235% in the past 12 months.
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