AIM-listed asset manager Arc Fund Management's trading suspension has been lifted this morning with the publication of its audited results for the year ended 31 December 2007.
Arc trading was temporarily suspended yesterday pending release of the results, which showed the firm recorded a £538,540 loss last year, compared to a £485,155 profit posted in 2006. However, Arc attributes the loss to a goodwill impairment related to the firm’s acquisition of Leicester-based IFA Throgmorton Asset Management (TAM) and other charges following the takeover of structured product provider Arc Capital & Income (ACI) during the period. Without the charges, Arc says profits climbed from £729,903 to £827,770 last year. The ACI and TAM acquisitions increased Arc’s overall group t...
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