Investment company Metal Tiger (LON:MTR) moved into the black after booking trading gains in the first half of the year of £534,300.
Given the company’s preferred area of investment is the natural resources sector, the performance is little short of astounding considering the travails experienced by companies in this sector.
Profit before tax was £98,800, versus a loss of £100,000 the year before.
“Notwithstanding sector conditions, the company has still delivered substantial trading gains and has advanced the Direct Projects division with new JV [joint venture] agreements, new opportunities in process pending finalisation, and considerable progress on the ground,” said company chairman, Terry Grammer.
“We look forward to the remainder of 2015 and beyond. To the investors with the guts, determination and strength of will to invest in natural resource opportunities right now - we salute you,” he added.
At the end of the reporting period the company’s cash pile stood at £538,700, up from £185,400 at the end of 2014. Investments held for trading amounted to £949,800, up from £885,000 six months earlier.
Net assets at the end of June had risen to £1.24mln from £995,700 at the end of 2014, while overall net assets had risen to £1.56mln from £1.03mln.
Shares in Metal Tiger eased a quarter of a penny to 9.25p in the morning trading session.