Powerhouse Ventures (ASX: $PVL) half-year report highlights

Powerhouse Ventures Limited (ASX: $PVL) has released its half-year report for the period ending 31 December 2023. The company reported a profit of $30,965, a decrease from $1,003,451 in the same period in 2022. The Net Tangible Assets (NTA) at 31 December 2023 stood at 8.86.

Executive commentary on half-year performance

During the financial half-year, Powerhouse Ventures Limited focused on its principal activities, which involved investing in deep-tech innovators addressing global challenges. The company aimed to add value to firms producing sustainable IP moats in sectors such as electrification & decarbonization, next generation computing, space technologies, and healthcare technologies. The profit for the Group after providing for income tax amounted to $30,965, reflecting the company's commitment to delivering sustainable returns.

Summary of Powerhouse Ventures (ASX: $PVL) half-year report

Powerhouse Ventures Limited's half-year report for the period ending 31 December 2023 revealed a profit of $30,965, a decrease from the previous year. The company's focus on investing in deep-tech innovators and adding value to sustainable IP moats in various sectors remained evident. The Net Tangible Assets (NTA) at 31 December 2023 stood at 8.86. The report also highlighted the sale of the Group's investment in Firmus Grid for $305,000, representing the initial sum invested plus accrued interest to that date. The company's commitment to delivering sustainable returns and its strategic investment activities are expected to continue shaping its future performance.