Braveheart Investment Group (LON:BRH) said its net profit nearly doubled in the year to March, after a jump in the value of its investments.

Profit after tax came in at £1.49 million for the full year, up from £0.78 million the year before. Earnings per share increased to 5.51 pence per share from 2.28 pence, despite its total revenue falling to £0.82 million.

In total, the group reported an increase in income over the 12 month period, hitting £1.98 million on the back of “considerable operational progress” in its strategic investment.

The group valued its portfolio at £2.22 million, up from £862,000 the year before. Looking forward, Braveheart Investment remained positive and said it may engage third-party investors should any further capital be required.

Shares in Braveheart Investment Group are currently trading down 4.21 percent at 18.20 (1552GMT).