- Argo Group plunged into the red in the year to the end of December posting a pre-tax loss of $2.0m against a pre-tax profit of $2.1m last time.

Revenues fell to $7.5m from $8.8m and the group reports an operating loss of $1.2m comapred with a profit of $1.0m in 2013.

Chief executive Kyriakos Rialas said: "Argo continues to methodically work out its private equity assets in order to conclude a satisfactory liquidity event and extract maximum value for the investors. In a slowly recovering global environment this process requires patience and it is taking substantial effort and time but at the end management's perseverance will produce results."

At 8:41am: [LON:ARGO] Argo Group Ltd share price was -0.12p at 7.13p

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