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NAV up at City of London Group
City of London Group, the financial services group centred on specialist financing and alternative fund management, saw its net asset value (NAV) per share jump by 13.4 per cent last year. NAV per share at the end of March stood at 87.8p, up from 77.4p a year earlier. In the year to 31 March the company saw revenue advance to £0.79m from £0.18m the year before, but at the pre-tax level it fell into the red with a loss of £0.51m, compared to a profit the year before of £0.24m, as administrative expenses ballooned to £2.41m from £0.93m the previous year.