Gloom fails to tarnish Beeson Gregory's joy

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Beeson shares rose 22% to 206 1/2p (€3.25) as the company, which floated last spring, reported pre-tax profits for the year to December 31 of 14.3m (€. 22.48m). Turnover was 41.3m.

The group's technology investments portfolio performed strongly, managing a 30% surplus, from a cost of 15.8m to a year-end valuation of 20.7m.

The group admitted its foray into North America had not been a success. It is closing its office in Boston and writing off last year's 1.46m investment.

Beeson said it was building an asset management business and plans to launch its first fund, focusing on European growth companies.