LONDON (ShareCast) - Turnaround investment company Volvere made a profit in the first half and says it’s continuing to review potential acquisitions and investments.

The firm reported a pre-tax profit of £587,000 for the six months ended 3 July versus a £219,000 loss a year ago. Revenue from continuing businesses was £5.4m.

It said the sales of Sira Certification on 3 July for an initial £8.1m has significantly increased cash reserves at a time when cash is valuable. The group has £21.1m in cash and marketable securities.

Volvere’s trading operations are now principally those of marketing and data services firm, Interactive Prospect Targeting. It owns 50% of that group and received a dividend of £0.5m in August. The business made an interim operating profit of £1m.

‘As a result the group has now recouped all of its initial investment plus a further £0.3m in less than one year,’ it said.

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