Braveheart trading in line with expectations

Fund management and strategic investor group Braveheart Investment Group updated the market on its trading on Thursday, reporting that it had continued to perform in line with the January 2017 trading update.

The AIM-traded firm said that as a result, the directors expected that profit before and after taxation for the year ended 31 March would be in the region of £750,000.

As opportunities arose, the board said the group had continued to invest in its strategic investment portfolio, which resulted in an increase its percentage holding in Kirkstall to 37% from 28%.

Additionally, following the purchase of existing shares and the provision of a convertible loan to Paraytec, the group's interest would increase, on conversion, to 47% from 33%.

The board said it intended to report more fully on operational developments in the company's investments and Viking Fund Managers in the group's annual report and accounts for the financial year ended 31 March, which they expected to release before the end of June 2017.

“We are pleased with our progress over the past year and have cash on our balance sheet available for further investment opportunities over the coming months,” said CEO Trevor Brown.