Braveheart Investment Group PLC (AIM:BRH) said it is hopeful that the current market turbulence will "present interesting new investment opportunities and we will be positioned to respond as events unfold".
Annual results for the year ended 31 March 2022 showed earnings of 3.1p per share, compared to 36.3p a year earlier.
At year end, there were 18 companies in the portfolio, made up of strategic investments and portfolio investments, of which two, Kirkstall and Paraytec, were consolidated into its accounts.
The fair value of the directly held portfolio, excluding the two companies, was £4.7mln, up from £613,847 a year earlier.
During the year the group made investments of £1.5mln into three portfolio companies, Autins Group, Velocity Composites and Phase Focus, not including investments made into investments that are controlled by the group.
The value of Kirkstall and Paraytec was deemed unchanged at £220,622 although the value in the consolidation in terms of goodwill stands at £205,775.
Therefore, Bravehaeart said, the fair value of the directly held portfolio was £4.92mln, compared to £819,622 a year ago.
During the year the group raised of £2.5mln before expenses and made additional investment into Phase Focus Ltd, one of its strategic investments.