Solid asset growth at BP Marsh
Aim-listed BP Marsh reported a 4.3 percent increase in half-year net asset value (NAV) to £48.5mn as it continued to benefit from the rapid growth of expansionist broker Hyperion.
Pre-tax profits also increased by almost 70 percent on the prior-year period to £2.3mn, leaving the losses that the investment business incurred in the first half of 2010 far behind.
However, the group's half-year NAV of 166p means that the stock is currently trading at just 0.54x NAV on the stock...
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