A record performance from frozen pie maker Shire Foods in 2015 helped investment and turnaround specialist Volvere PLC (LON:VLE), which has an 80% holding, post increased profits in the year to end December.
Volvere's pre-tax profit from continuing operations was £1.34mln, up from £1.2mln the year before, on revenues of £27.9mln (2014: £12.4mln).
It was Shire's fourth full year of trading within the group and it produced the highest underlying yearly profit of any company it has owned so far.
The group also disposed of its 76% share in transport focused JMP Consultants in December last year for £6.48 million, having acquired it for £0.42mln in May 2013.
"The sale of JMP for well in excess of book value significantly boosted our net assets per share and added 1% per annum to the annual growth rate that we have achieved to date," the firm told investors.
"At the year-end, our net assets per share had risen to £5.69 from £4.31, increasing the compound growth rate from 14% to 15% per annum since the company's inception in 2002."
In addition, Impetus Automotive, acquired in March 2015, achieved revenue and profit before tax and intra-group management and interest charges of £12.1 million and £0.58 million respectively for the year.
"The group's success to date reflects our consistent approach to value creation by sourcing businesses where we believe we can make operational and financial improvements. We are optimistic that our approach will give continued positive returns to shareholders," it said.
Shares added 8.38% to stand at 585p.