Thanks for the pointers everyone, I’ve managed to come up with a solution:
float roundedValue = round(2.0f * number) / 2.0f;
NSNumberFormatter *formatter = [[NSNumberFormatter alloc] init];
[formatter setMaximumFractionDigits:1];
[formatter setRoundingMode: NSNumberFormatterRoundDown];
NSString *numberString = [formatter stringFromNumber:[NSNumber numberWithFloat:roundedValue]];
[formatter release];
The above works for the test cases I threw at it, but if anyone knows a better way to do this I’d be interested to hear it!