PERTH-based Braveheart Investment Group has expressed confidence that it can achieve growth, highlighting its belief that more funding is now available for small and medium-sized enterprises.
Writing in the fund management company's annual results, published yesterday, Braveheart chief executive officer Geoffrey Thomson says: "Over the last year, the financial climate has markedly improved and SMEs are now finding it easier to attract funding. This bodes well for our portfolios and, with more funding in the SME space, we are set to grow our business as the economy continues to improve."
Braveheart announced revenues of £2.044 million for the 12 months to March 31, down marginally from £2.046 million in the previous financial year.
It posted a bottom-line loss of £807,522 for the year to March, having made a profit of £67,570 at this level in the prior 12 months. This reflected a net loss of £822,950 from discontinued operations, relating to the Envestors corporate finance business which was sold to a management buy-out team on December 13 last year.
Braveheart reported a £15,428 profit from continuing operations for the year to March 31, down from £186,407 in the previous 12 months.
However, Braveheart noted it had made a profit from continuing operations of about £38,000 in the second half of its financial year, having made a loss of around £23,000 in the first six months.
Braveheart recently launched the Crowdcube Venture Fund, and also runs the Growth Loan Fund, which is aimed at SMEs in Northern Ireland.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereComments are closed on this article