Blue Star Capital shrinks losses

24th Feb 2010 08:52

Investment firm Blue Star Capital shrunk full year losses after it reduced costs and saw improved returns from its investments.The group, which invests predominantly in unquoted companies within the Homeland Security Industry sector, said it had made substantial progress during the year.Blue Star's acquisition of The PegasusBridge Defence & Security Fund in August 2009, also strengthened and enlarged its HSI portfolio, it said.Losses for the year ended 30 September 2009 were reduced to £566,335 from £1.5m the year before. Net assets increased £910,777 to £4.7m.Looking ahead Blue Star said its four key investments all continue to exhibit major future potential and are well positioned to deliver significant returns to the Blue Star Capital portfolio during 2010 and beyond.