The investment company of Sir David Murray's family interests, which demerged from MIH in 2010 and is run by David Murray junior, made a post-tax profit of £1.1m, down from £1.7m, which after minority interests was a £428,000 loss. Its net debt rose from £9.9m to £17.2m after the metals deal.
Mr Murray said he was "positive in the medium to longer term for the metals business and the sector". Sir David has said Murray Capital is now where his main interests lie, and that it is poised to overtake his debt-heavy MIH in size.
The family company's accounts show turnover still some way behind the £170m of continuing turnover at MIH, which recorded a loss of £97m and net debt of £369m. But the Murray Capital investment portfolio is worth around £150m, including direct investments in the UK's largest bus manufacturer Alexander Dennis, audio company SFX and IT group Capito.
Mr Murray, who chairs the Institute of Family Businesses (IFB) in Scotland, said: "We are continuing to grow the portfolio as highlighted by the acquisition of Murray Metals. Although there was a bottom-line loss in 2012, we are building value for the family over the long term.
"We feel more optimistic now about investing than we have done for five years."