GHE.L Share News (GHE)

(ShareCast News) - Gresham House posted its interim results for the six months to 30 June on Wednesday, with revenue increasing 254% to £1.7m.The AIM-traded firm also highlighted its post period-end fund launch and acquisition, resulting in £359m of assets under management as of 31 August, compared to period end of £261m and nil at the interim in 2015.Its board said the period delivered an adjusted loss of £1.0m, swinging from a £63k profit a year ago, reflecting its platform investment to facilitate future scaling of group AUM and profitability.The company maintained strong asset backing with gross assets of £35.1m at period end, down slightly from £35.8m at the end of 2015, including cash of £4.8m, deferred proceeds of £6.0m, legacy property assets of £9.9m and the shareholding in Gresham House Strategic of £5.9m."Gresham House continues to build goodwill and awareness as a specialist asset manager with the year to date showing achievement of significant milestones including AUM and revenue growth," said CEO Anthony Dalwood."We expect this to continue as the group has invested in a platform to generate scale."Dalwood said the company's focus remained on higher margin and alternative asset management product, which he added could also generate long term performance fees."These asset classes continue to see increased allocation from pension funds, institutional investors, family offices and high-net-worth individuals."Opportunities for Gresham House to grow organically and through further acquisitions are evident."At 1234 BST, shares in Gresham House were up 2.56% at 320p.