05:30 PM EST, 11/13/2024 (MT Newswires) -- Clairvest Group ( CVTGF ) on Wednesday reported a swing to profit for its fiscal second quarter.

The company, which partners with entrepreneurs, reported a profit of $39 million, or $2.68 per share, compared with a loss of $44 million, or $2.93, last year. The profit was driven by an increase in the valuation of Clairvest's ( CVTGF ) private equity investment portfolio in the waste management and gaming industries.

"We continue to be fully engaged in working with our partners to grow value as well as working with potential new partners to cement transactions. We are making progress on most fronts and dealing with our challenges as they come up," said Ken Rotman, CEO of Clairvest ( CVTGF ).

Clairvest ( CVTGF ) closed $0.02 higher, to $69.49, on the Toronto Stock Exchange.