Pre-tax profits at TVC Holdings fall

TVC Holdings has reported pre-tax profits of €2.4m for the half-year to the end of September — a near 37% decline on the same period last year.

Similarly, the investment firm’s gross portfolio return fell from €4.5m to €3.5m on a year-on-year basis, but the value of its net assets rose by over €2m to €117.6m.

The bulk of TVC’s asset base is made up of cash and German government bonds. The remainder comprises its €28.1m-valued 18% stake in UTV Media and its three unquoted investments in the form of specialist technology firms CR2 and Shenick, and Maldron Hotels owner the Dalata Hotel Group.