Braveheart pleased with progress

Braveheart Investment Group said it has continued to perform in line with the January update and directors expected profit before and after tax for the year ended 31 March would be in the region of £750,000.

The group said that as opportunities had arisen, it continued to invest in its strategic investment portfolio and this had resulted in an increase in its percentage holding in Kirkstall from 28% to 37% and following the purchase of existing shares and the provision of a convertible loan to Paraytec, the group's interest would increase, on conversion, from 33% to 47%.

The group said the directors 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.

Chief executive Trevor Brown said: "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."