Portfolio realisations underpin strong growth at IP Group

Net assets rose 19 per cent to 263.1m pounds in the year ended December 31st at FTSE 250-listed intellectual property-based businesses developer IP Group.

Net assets rose 19 per cent to 263.1m pounds in the year ended December 31st at FTSE 250-listed intellectual property-based businesses developer IP Group.

The group reported that net cash and deposits contracted to £47.9m from £60.5m one year earlier. Meanwhile, adjusted profit before tax soared to £46.7m from £0.5m in 2011. The most recent value - £46.7m- excluded a £6m reduction in the fair value of Oxford Equity Rights asset.

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The group's highlights included a fair value of investment portfolio of £181.8m, up from £123.8m in 2011 and a continued increase in capital provided to portfolio companies to £26.3m, up from £14.3m one year earlier.

Portfolio realisations were valued at £16.7m compared to £3.7m one year earlier.

Alan Aubrey, Chief Executive Officer of IP Group, commented: "2012 has been another strong year for IP Group, marked by a number of significant developments across our portfolio, including the admission of Retroscreen Virology and Revolymer to AIM and a significant further financing by Oxford Nanopore Technologies.

"In line with our commitment to significantly increase our overall rate of investment, the group committed £26.3m of new funds to portfolio companies during the year. At the same time, we continue to explore alternative sources of innovative intellectual property based opportunities."

IP Group's share price was down 0.95% to 135.70p at 10:19 on Tuesday morning.




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