Volvere rises more than 8% on improved FY profit

Shares in Volvere were up more than 8% after the growth- and turnaround-investment company posted a full-year pre-tax profit from continuing operations of £1.34m, from £1.2m.

The company said it looked forward to continuing progress in 2016. Group net assets bounced up to £24.3m, from £19.0m.

Consolidated net assets per share came in at 569p, from 431p, boosted by the sale of its 76% stake in JMP Consultants for £6.48m, which was well in excess of book value.

Volvere said Shire Foods delivered a record performance with pre-tax profit before intra-group management and interest charges of £1.59m, on revenue of £15.5m.

It added that Impetus Automotive achieved revenue and pre-tax profit before intra-group management and interest charges of £12.1m and £0.58m respectively.