- Argo Group said it made very good progress in the year to the end of December in a particularly challenging and difficult environment.

The group said there was a steady performance across most the funds.

Operating profits rose to $1.2m from $0.9m and pre-tax profits edged higher to $2.5m from £2.4m in 2009.

CEO Kyriakos Rialas said: "During the year we paid a dividend and carried out the successful buyback of shares whilst still maintaining our strong balance sheet and liquidity.

"Our profitability remains consistent and we have continued confidence about the future of the business and the outlook for new asset gathering."

At 4:10pm:

[LON:ARGO] share price was +0.63p at 12.38p

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