IP Group reports half year profit

FTSE 250 intellectual property development firm IP Group reported an adjusted half year pre-tax profit versus a loss the previous year as net assets increased.

FTSE 250 intellectual property development firm IP Group reported an adjusted half year pre-tax profit versus a loss the previous year as net assets increased.

The group, which recently announced the proposed acquisition of Proximagen Group, also said it expects full-year revenues in excess of £8.5m and adjusted EBITDA in excess of £3m.

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