- Investment company Gresham House Strategic reported a surge in first-half profit as gains on its investments swelled.

For the period ended 30 September 2021, pre-tax profit rose to £14.4 million from £5.7 million year-on-year as gains on investment jumped to £17.8 million from £5.4 million.

Net asset value total return performance in the six months to 30 September 2021 was 24.4% to 1867.6p per share.

'This is a strong performance from this investment portfolio based on the specialist strategic public equity mandate,' the company said.

'We were pleased to see the investment thesis playing out in the bid for Augean and in the share price appreciation at RPS Group, which enabled us to realise our profits.'

'We expect further corporate activity based on the underlying intrinsic values of the holdings.'

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