Business
Half-year results for the 6 months to 31 Dec 2015
Half-year results for the 6 months to 31 Dec 2015.
About this update from Frontier Ip Group Plc
[{"type":"text","content":"\n \nRNS Number : 4693R Frontier IP Group plc 09 March 2016 \n\n9 March 2016\nAIM: FIPP\n \nFrontier IP Group plc \n(\"Frontier IP\" or \"the Group\")\n \nFrontier IP Group plc is focused on the commercialisation of intellectual property\nHalf-yearly results for the six months to 31 December 2015\nFinancial Highlights\n· Group revenue quadrupled to £992,000 (2014: £244,000) - principally reflecting a higher gain on the revaluation of investments of £883,000 (2014: £160,000)\n \n· Revenue from services increased 30% to £109,000 (2014: £84,000)\n \n· Profit before tax of £549,000 (2014: loss of £242,000)\n \n· Fair value of the portfolio up 31% to £3,745,000 at 31 December 2015 (30 June 2015: £2,859,000),an increase of 138% year on year (31 December 2014: £1,574,000)\n \n· Basic earnings per share of 2.07p (2014: basic loss per share of 1.07p)\n \n· Cash balances as at 31 December 2015 of £264,000 (30 June 2015: £636,000; 31 December 2014: £184,000)\n \n· Net assets per share increased to 23.0p as at 31 December 2015 (30 June 2015: 20.9p; 31 December 2014: 17.0p)\n \nOperational Highlights\n· Further progress in funding the portfolio including:\n- PulsiV Solar announced its first fundraising\n- Nandi Proteins fundraising successfully completed post period-end\n \n· First milestone achieved in our strategy of developing relationships internationally with the announcement, in January 2016, of our agreement with Évora University in Portugal\n \nAndrew Richmond, Chairman, commented,\n\"I am pleased to report that we made excellent progress over the first half of the financial year. We continued to actively pursue the growth of our portfolio and this was reflected in a 31% increase in the fair value of our portfolio compared to 30 June 2015 and in a 138% increase compared to 31 December 2014. We have been successful in securing investment in our portfolio with the completion of fundraisings in PulsiV Solar and Nandi Proteins and look forward to seeing further progress within the portfolio. In li...