Investment company TVC Holdings has reported a return to profit in the six months to the end of September.
It said pre-tax profits in the six months were €3.8m, following a loss of €11.3m in the same period last year.
The company said it reduced costs by 13%, while it also raised €1.3m from the sale of its stake in OpSource to Dimension Data in June.
TVC had net assets of almost €110m at the end of September, and no debt. Cash and a stake in UTV accounts for 88% of TVC's net asset value. It has €73m in cash and government bonds.
"We believe that TVC is in a very strong position to make additional long-term investments at what we expect to be attractive valuations, adding further value to our investment portfolio," said executive chairman Shane Reihill.
