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Investment company Braveheart Investment reported a rise in first-half profit as its portfolio value was boosted by the increase in its take in PhaseFocus.
For the six months ended 30 September 2021, pre-tax profit grew to £2.5 million from £402,000 year-on-year as income grew to £3.4 million from £895,000
The investment portfolio as at 30 September 2021 stood at £4.4 million, up from £820,000 at 31 March 2021.
'This uplift is largely due to the increase in the investment value of PhaseFocus,' the company said.
'The directors are excited by the future prospects of the businesses and the potential value realisation events which lie ahead,' it added.