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IP Group PLC - London-based science and technology investment firm - Net asset value per share ends June 30 at 136.7 pence, dropping from 167.0p six months earlier, but is up from 135.4 pence at the same point a year prior. Declares interim dividend of 0.5p, up from 0.48p the year prior.
Its portfolio makes a £291.1 million loss, reversing from a £140.4 million gain the year prior. Blames it on reversal of gains on Oxford Nanopore Technologies PLC, reflecting public market declines for life science tools companies.
‘Having acted to ensure that the group has a strong level of liquidity, IP Group ended the period with gross cash of £235.7 million. This financial strength enabled the group to continue to invest into our leading companies over the period as well as continuing to return a proportion of all exits to shareholders via dividends and share buybacks. In addition, we have arranged a private market debt issue to provide additional funding flexibility in what may be difficult market conditions,’ Chief Executive Greg Smith says.
Current stock price: 87.30 pence, up 1.1% on Wednesday
12-month change: down 29%
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