It said the total return recovered to 138.6p per share from 130.7p at the end of March.

The revenue profit before tax for the six months to the end of September was £0.35m which compares to £0.41m for the same period in 2008 - £0.33m excluding a one-off benefit of a VAT recovery,

The capital profit before tax for the six months to September 2009 is £2.08m which compares to a £1.16m loss for the same period in 2008.

The net asset value per share at 30 September was 90.6p per share (31 March: 85.7p). It said the total return (net asset value plus cumulative dividends paid) at 30 September had recovered to 138.6p per share (31 March: 130.7p).

The FTSE All-Share index has increased by 32.8% since 31 March, which compares to an increase in the underlying net asset value of the company of 9.6% over the same period.

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