Business
Preliminary Results
Preliminary Results.
About this update from Truetide Plc
[{"type":"text","content":"\n \nRNS Number : 7969M Braveheart Investment Group plc 21 July 2014 \n \n\n \n21 July 2014\nBraveheart Investment Group plc\n(\"Braveheart\" or \"the Group\")\n \nPreliminary Results for the year ended 31 March 2014\nKey Points\nOperational:\n· First realisation from Finance Yorkshire Equity Fund;\n· Northern Ireland Growth Loan Fund performing in line with expectations;\n· Establishment of the Crowdcube Venture Fund (CCVF) and partnership with Crowdcube Ventures;\n· Divestment of corporate finance subsidiary Envestors Ltd; and\n· Non-executive director Edward Cunningham retired.\nFinancial:\n· Profit from continuing and discontinued operations was £38,000 in H2 (H1: loss of £845,000); \n· Impairment to intangibles for Envestors Ltd was £610,000 in H1 and £95,000 in H2;\n· Profit from continuing operations was £38,000 in H2 (H1: loss of £23,000);\n· Investment management income remained stable at £2,044,000 (2013: £2,046,000);\n· Net unrealised gain on revaluation of portfolio investments of £111,000 (2013: gain of £254,000), giving total portfolio fair value of £3,725,000 (2013: £3,560,000);\n· Earnings per share loss of 3.45 pence (2013: profit of 0.30 pence)\n· Placed a total of 2,283,855 shares raising £250,000;\n· Cash balances of £159,000 (2013: £39,000) with no material borrowings; and\n· Net assets per share of 15.51 pence (2013: 19.43 pence).\nEvents since the year end:\n· First realisation from the Lachesis fund; and\n· Non-executive director Trevor Brown appointed.\n \nGeoffrey C B Thomson Chief Executive said:\n\"This year has seen good performance and output from our fund management business, the launch of an exciting new fund (Crowdcube Venture Fund) and the divestment of our loss making corporate finance business (Envestors). We have made steady progress with our directly held portfolio and market sentime...