Artisan finance director Chris Musselle said the group had been told it would attract more interest from investors if it focused on its core commercial and residential development business. Artisan's share price rose 0.75p to 11.75p, soon after the announcement last Friday.
He said: "The advice was that it was slightly confusing to investors having these businesses and if we were perceived to be more focused it would help our share price. Hopefully, it will be seen as a good, sensible move. "
But Musselle added that Artisan was keeping Speymill Contracts, which specialises in refurbishing and building pubs.
Artisan has also sold its 11.35% stake in IT company Envesta.
The group said the stake, bought last year, was always considered a short-term investment.
Artisan posted pre-tax profit of £5.5m on turnover of £37.7m for the six months to 30 September 2000.
