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Rights and Issues Investment profits rise

By BFN News | 01:31 PM | Monday 26 July, 2010

Rights and Issues Investment Trust posts a profit of £4.6m for the the six months to the end of June - up from £3.8m last time. Chairman Simon Knott said the strong recovery in the UK equity market following the recession came to an end in the first six months of 2010 as economic concerns returned. He said the difficulties of the euro-zone in particular had focused attention on the fragility of public finances and the fall of 7.9% in the FTSE All-Share reflected the change in sentiment. But he added: "Despite this weaker background, the net asset value of the capital shares has recovered by a further 8.4% to 2339.3p. "Smaller company shares have performed a little better and the trust has benefitted from a high level of takeover activity including the recent cash offer for Intelek. "The interim dividend of 8.5p per income share has been maintained." Story provided by

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