Garrett-Cox faces up to £95m first-half loss

Garrett-Cox, who was promoted from chief investment officer six weeks ago, says the move is to boost the £2.36bn firm’s investment performance in conditions she describes as “challenging” and likely to continue. The £94.8m pre-tax loss was compared with £117m profit in the six months to July 2007. Total revenue at Alliance Trust was nearly £70m in the red to 31 July compared with gains of more than £138m in the same six month period last year. Loss attributable to equity holders stood at £99m. Company net asset value fell 4.8% to 31 July but Alliance Trust flags up the 8.4% decline in...