Argo Group Ltd - London-based alternative investment manager - Revenue for the half ended June 30 down to USD1.4 million compared to last year's USD2.4 million. Pretax profit for the half drops to just GBP200,000 from GBP1.5 million the year prior. Argo Group won't pay an interim dividend. Chief Executive Kyriakos Rialas says the market volatility that resulted from Covid-19 provided trading opportunities and although March was a down month, the Argo fund recovered strongly from April to June resulting in a year-to-date return of 4.6%. Argo Funds total assets under management sit at USD130.4 million. The company also recently launched the Argo US feeder fund in an effort to attract US onshore investors as the group's main target is to increase assets under management.
Current stock price: 17.25 pence
Year-to-date change: down 30%
By Greg Roxburgh; email@example.com
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