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Marechale Capital PLC on Monday reported a sharp rise in profit for its recently ended financial year, driven by unrealised investment gains and warrants in client companies.
Shares in the London-based investor in consumer brands and mineral extraction companies were 5.2% higher at 2.92 pence on Monday morning in London.
For the year ended April 30, Marechale posted a pretax profit of £2.6 million, up significantly from £245,886 the year before, driven by a £2.7 million gain from its investments, compared to £412,000.
In Marechale's portfolio, Weardale Lithium Ltd announced the securing of mineral extraction rights in County Durham, England through existing boreholes confirmed to contain lithium. Meanwhile, telecoms firm Fast2Fibre and The Forest Road Brewing Co have both benefited from further equity funding.
Revenue also grew 55% year-on-year to £621,573 from £399,929.
‘Due to Marechale's proven track record as a corporate finance adviser in the £5-50 million Enterprise Value PE sector, the board remains optimistic that the company will continue to generate further uplifts on its current and future equity and warrant investments, both in the short and longer term,’ the company stated.
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