07:47 AM EDT, 08/20/2024 (MT Newswires) -- Flow Capital ( AHFCF ) , a provider of venture debt, overnight Monday reported higher second quarter profit on increased recurring revenue.

Net profit rose to $0.2 million, or $0.006 per diluted share, from $0.1 million, or $0.003 per diluted share.

Flow Capital ( AHFCF ) noted recurring loan interest income was 28.5% higher, to $1.9 million, while total revenue according to IFRS declined to $1.8 million, from $2.3 million, last year.

"We achieved several milestones in the quarter including: record recurring revenue at $1.9 million; record book value per share at $1.255/share; record total assets at $65.8 million; and record trailing 12-month new deployments at over $29 million," said Alex Baluta, CEO of Flow Capital ( AHFCF ).