News blog

Braveheart Investment Group

• BY: Andrew Hore |
• POSTED: 03/12/2012 |

Asset manager and adviser Braveheart Investment Group moved into profit in the six months to September 2012.

This is a maiden profit for the company as fee-based revenues more than doubled to £1.36m. A loss of £842,000 was turned into a profit of £67,000. This was mainly down to a £209,000 unrealised gain on investments, compared with an unrealised loss of £297,000, offset by a write-back of deferred consideration of £179,000, in the first half of last year. Corporate finance adviser Envestors helped to raise £5.7m for clients in the first half. Braveheart has funds under management of £120m.

There was £341,000 in the bank at the end of September 2012. House broker Merchant Securities expects net cash to be £250,000 at the end of March 2013.

At 15.5p a share, Braveheart is valued at £3.51m. The portfolio assets have a valuation of £3.5m and net asset value is £4.43m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFNovember2012_38.pdf