Braveheart Investment Group swung into the black in the year to the end of March with a pre-tax profit of £780,000 against a loss of £1.7m last time.
Investment management revenue rose to £1,154,000 from £1,133,000 last time.
Total income for the year ended 31 March 2017, including realised gains and unrealised revaluation gains and losses, was £1,608,000 (2016: £196,000).
The average number of employees decreased by 5 during the period under review.
Employee benefits expense was £441,000 (2016: £1,001,000).
Other operating and finance costs reduced to £388,000 (2016: £516,000).
Chief executive Trevor E Brown said: "Throughout the course of the year the board has been firmly focused on deploying shareholder funds where we believe the prospects for growth are outstanding.
"To this end we have continued to invest in Paraytec Limited and Kirkstall Limited where our overall holdings have increased.
"We have also made a new strategic investment in Gyrometric Limited.
"We will continue to work closely with the boards of our investee companies and anticipate updating shareholders over the current year on any significant operational developments as they arise.