LONDON (ShareCast) - Westside Investments, which plans to change its name to reflect its emphasis on sport-related activities, swung to a profit during the year ended 31 December 2014.
Although revenue declined slightly, by 1.68% to £1.65m, the company was able to post a pre-tax profit of £16,590, compared with a 2013 loss of £379,742. Losses per share improved to 0.004p from 0.027p a year earlier.

The company did not recommend a dividend.

Its Sports in Schools division posted revenues of £1.24m thanks to growth in its holiday camps, where it provides sports tuition during the school holidays.

The second phase of its UltimatePlayer.me programme is expected to be launched during the second half of the year. The programm is a "free to view online platform" for children to measure their own individual skill sets, in which the group has invested considerable time and money.

Westside is considering changing its corporate name following the pilot launch of UltimatePlayer.me to reflect its emphasis on sports-related activities.

Its Football Partners operation saw revenues decline 8% to £405,116, hurt by a difficult market and the loss of a key venue.

Chairman Richard Owen said: "We are confident that Sport in Schools and UltimatePlayer.me working together and taken together will represent the growth and future value to shareholders of Westside Investments."

Shares were up 2.27% to 0.22p on Wednesday at 14:18.

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