Find out which Scottish companies were the best performers on the stock market this month.
BRAVEHEART INVESTMENT GROUP +64.9%
The business angel investment group, based in Perth, moved into the black at the half-year stage, delivering a record profit of £475,000 for the six months to the end of September, against a loss of more than £1 million a year earlier, following efforts to reduce its operating costs. As well as keeping a close eye on costs, the firm – headed by chief executive Trevor Brown – told investors that it continues to seek sales from its investment portfolio to add to the cash available for more deals.
• Shares closed at 10.25p on Tuesday 3 January and at 16.9p on Monday 30 January
Having floated on London’s Alternative Investment Market in November, in a move that valued the Edinburgh-based accounting software specialist at more than £34 million, the firm this month struck a deal to offer its services to small business customers of Royal Bank of Scotland. Chief executive Ed Molyneux said the company, which develops accounting software aimed at the UK’s five million “micro-businesses”, was “naturally excited about the potential for this new agreement”
• Shares closed at 101.4p on Tuesday 3 January and at 136p on Monday 30 January
FRONTIER IP +19.5%
The Edinburgh-based company, which helps universities to commercialise their research, recently took a 20 per cent stake in biotech firm Tarsis Technology, a spin-out from the University of Cambridge. Frontier is also an investor in Heriot-Watt spin-out Nandi Proteins, which is to take part in a study funded by a £1m grant from Innovate UK to help develop new “processes and products that lead to the availability of healthier food choices for consumers”.
• Shares closed at 38.5p on Tuesday 3 January and at 46p on Monday 30 January
CALEDONIAN TRUST +16.7%
Recent results showed that the Edinburgh-based property investment holding and development company’s pre-tax profits fell to £105,000 for the year to 30 June, compared with a profit of £565,000 a year earlier, when its figures were boosted by valuation gains on investment properties. Looking at the UK’s post-Brexit prospects, chairman Douglas Lowe said: “My forecast is the economic penalty for withdrawing from the EU will be measurable but manageable.”
• Shares closed at 96p on Tuesday 3 January and at 112p on Monday 30 January
The oil and gas explorer, which is based in Edinburgh and focuses its efforts on Africa, has stressed that 2017 will be a “key year” for the company. In an operational update, chief executive Kevin Hart said the firm would “focus on executing our stated strategy for the benefit of all our shareholders”. He also highlighted a “robust balance sheet position”. Bowleven last month said it would have to halt its share buyback programme after rebel investor Crown Ocean Capital voted against a resolution at its annual shareholder meeting.
• Shares closed at 24p on Tuesday 3 January and at 27.5p on Monday 30 January