Braveheart narrows annual loss as portfolio companies advance
Braveheart Investment Group PLC on Wednesday reported a sharply narrowed annual loss, helped by fewer impairments and steady progress across its portfolio of early-stage technology investments.
The Dodworth, England-based investment company said its pretax loss for the financial year ended March 31 was reduced to £1.1 million from £8.2 million a year earlier. The basic loss per share narrowed to 1.71 pence from 11.38p.
Among its unlisted holdings, organ-on-a-chip developer Kirkstall signed new distribution deals in China and South Korea and advanced product development for pharma clients. Paraytec, its portable cytometry specialist, partnered with UK distributor Analytik and is developing a two-colour instrument for expanded biomedical use.
Engineering firm Gyrometric Systems led a UK-US research project on modular bearings for wind turbines, with support from Innovate UK and the US National Offshore Wind Research & Development Consortium.
Braveheart also acquired a 30% stake in Imaging Biometrics PLC, which recently launched new AI-based diagnostic software and reported promising early results in a glioblastoma clinical trial.
Looking ahead, Braveheart said it remains confident in the commercial and scientific momentum across its portfolio and has secured sufficient resources, including a post-year-end £295,000 fundraising, to support development plans in the year ahead.
Shares in Braveheart were quoted at 2.10 pence in London at midday on Friday, unchanged. The stock is down 52% over the past 12 months.
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