 saw a notably strong performance in the year to December 2016){kind=link}
Growth and turnaround investment company Volvere (LON:VLE) saw a notably strong performance in the year to December 2016, causing shares to rise nearly 6 percent at market open.
Group net assets rose to £26.6 million, up from £24.3 million the previous year, with group revenue at £33.0 million from £27.9 million. Profit before tax rose to £1.98 million, up from £1.34 million the year before.
The holding company invest in businesses encountering difficulties across a variety of sectors, including food manufacturing, security solutions and investment services.
Businesses with significant performance included Shire Foods, who delivered a “satisfactory performance in a challenging period following the Brexit vote” with profit before tax hitting £0.91 million, and Impetus Automotive, who delivered an “encouraging performance”.
In a statement, Volvere said:
“The Group has considerable financial resources and operates in a number of different market sectors. As a consequence, the directors believe that the Group is well placed to manage the business risks inherent in its activities despite the current uncertain economic outlook.”
Shares in Volvere are currently trading up 5.58 percent at 710.00 (0940GMT).