GPG, which is winding down its portfolio, has exited its remaining holding in Ashley House, a UK-based health and social care property company whose shares have shed 93% of their value in the past five years.

Guinness Peat Group’s profit slumped to $2 million in the year to December compared to $92 million in the prior period following a massive write-down.

Investment company Guinness Peat Group has sold out of car auction company Turners Auctions – the first move in its plan to sell down its asset portfolio.

The investment company boosted its interim profit with a strong performance by thread maker Coats, while it sells assets worth $192 million.