- Sarossa Holdings swung to an H1 pretax profit of £0.47m, from a loss of £30,000. Portfolio return and revenue totalled £0.5m, from £68,000.

Looking ahead, the backdrop for equity investors is generally positive with a global recovery thought to be underway and with inflation under control, the company said.

"There is, however, reason for continued caution in the near term as economies remain vulnerable to Europe's debt crisis and the slowing down of federal reserve bond purchases in the US," it said.

This environment was also adversely effecting the valuations of many good businesses and the Board would , therefore, continue to maintain a rigorous and highly selective investment approach with a view to exploiting opportunities as they emerge, it siad.

At 8:23am: [LON:SRC] share price was +0.04p at 1.6p

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