LONDON (ShareCast) - (Sharecast News) - Braveheart Investment Group reported a total income of £36k in its first half on Friday, down from £3.36m year-on-year, although its losses did narrow.
The AIM-traded company said its loss for the six months ended 30 September totalled £0.76m, compared to £2.53m a year earlier, while losses per share shrank to 1.19p from 4.85p.

It made investments in Aukett Swanke Group and PhaseFocus Holdings during the period, and raised funds of £0.97m before expenses.

Since the end of the half-year, Braveheart said it had increased its shareholding in Aukett Swanke to 19.37%, while its Autins Group shareholding had risen to 12.91%.

The board said the total unaudited value of its unconsolidated investment portfolio as at 30 September was £5.13m, up from £4.72m at the end of March.

It put the uplift down to the additional investments made into PhaseFocus and Aukett Swanke , noting that on 30 September 2021, the comparable total valuation of its investments was £4.42m.

At period end, the company had unaudited cash and cash equivalents of £2.02m, down from £3.46m year-on-year.

"The directors believe that the strategic investments continue to be the most likely drivers of growth in shareholder value over the remainder of the current year," the board said in its statement.

"The board continues to work to enhance shareholder value within our strategic investments, and also to invest in other businesses where we consider there is good potential for medium term growth."

At 1230 BST, shares in Braveheart Investment Group were down 0.91% at 7.83p.

Reporting by Josh White for Sharecast.com.

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