Lyon & Turnbull, Scotland's oldest auction house has reported continuing steady growth in profits and assets, according to short accounts posted at Companies House.

The Edinburgh-based business, founded in 1826 and resuscitated in 1999 in a deal backed by board member Sir Angus Grossart, saw net assets and shareholder funds rise to £2.05m in the year to July 2013, from £1.97m the previous year and £1.79m in 2011. Some £64,000 was added to the profit and loss account. Growth has been largely due to its presence in London's exclusive Pall Mall.

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