Investment holding company TVC Holdings has reported pre-tax profits of €6.8m for the six months to the end of September, up from €2.4m the same time last year.
TVC Holdings said its gross portfolio return rose to €8m in the six month period from €3.4m in the first half of 2012.
The company said this increase came on the back of a rise in the value of its quoted investment in UTV Media.
TVC had no debt at the end of September, while it also had €29.8m cash in the bank.
As of September 30, TVC's investment portfolio was valued at €49.4m. €38.1m of this related to quoted investments and €10.2m related to unquoted investments.
"TVC's strategy is, in the medium term, to have a core portfolio of two to three platform investments in quoted and unquoted companies across a number of business sectors, and to continue to realise significant value from the other companies in the portfolio," commented the company's executive chairman Shane Reihill.
He said the company will continue to look for value-enhancing investments and to manage its existing portfolio to maximise value for its shareholders.
The investment holding company returned over €45m to shareholders in the six month period, through the payment of a special dividend.
