AssetCo's revenues rose to £13.3m in the six months to the end of March - up from £11.0m - but operating profits fell to £1.7m from £2.1m and pre-tax profits of £1.7m were down from £1.9m last time.

Revenue increased principally due to the weakness of sterling against the United Arab Emirates dirham and profits fell because of an increase in the costs of litigation against Grant Thornton.

Chairman Tudor Davies said: "Trading continues to be in line with management's expectations."




At 9:16am: (LON:ASTO) AssetCo PLC share price was 0p at 310p