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Frontier IP profit jumps 45% as portfolio value rises
StockMarketWire.com
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Intellectual property investor Frontier IP reported a jump in annual profit thanks to a rise in its portfolio value.
For the six month period ended 31 December 2020, pre-tax profit rose by 45% to £3.0 million year-on-year as value of its portfolio rose 21% to £23.4 million.
Unrealised profit on the revaluation of investments increased 33% to £4 million.
'Our portfolio is maturing, with several companies approaching inflection points which mark significant and material changes in their progress,' the company said. 'This is reflected by an increased pace in fundraising, strengthening of management teams, and the deepening and extending of industrial relationships within the portfolio.'
At 9:06am: (LON:FIPP) Frontier IP Group PLC share price was 0p at 67p
Story provided by StockMarketWire.com
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