Ace pre-tax profits fall

Ace Liberty and Stone's profit before tax fell to £612,334 in the year to the end of April from £1,055,581 as a result of a reduced portfolio valuation.

The group's property holdings rose by 23% during the year from £23,964,428 to £29,488,428 and total equity attributable to owners increased by 45% in the year to £17,946,575 (2015: £12,410,366).

Consolidated revenue for the year increased 70% to £2,037,308 (2015: £1,201,185)