An investment fund backed by Peter Hargreaves has recorded a recovery in profits after a rise in the value of several major US technology shares.
Blue Whale Capital, in which Hargreaves is one of two partners, reported profits of £4.1m for the year to March, up from £3.9m.
The profit figure can be split between Hargreaves and his colleague Stephen Yiu, the founder and manager of Blue Whale.
But since neither has made a profit from the company since its inception, a multi-million payout remains unlikely.
Fighting back: Blue Whale Capital, in which Peter Hargreaves is one of two partners, reported profits of £4.1m for the year to March, up from £3.9m
The growth marks a welcome recovery for Blue Whale, which suffered a profit decline last year as higher inflation and interest rates weighed on its key holdings, including computer chip giant Nvidia.
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