Tekcapital (TEK)

Sector:

IT Services

Index:

FTSE AIM All-Share

9.50p
   
  • Change Today:
      1.00p
  • 52 Week High: 17.00p
  • 52 Week Low: 6.00p
  • Currency: UK Pounds
  • Shares Issued: 198.19m
  • Volume: 1,040,430
  • Market Cap: £18.83m

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Tekcapital swings to profit as revenue jumps

By Ikaba Koyi

Date: Monday 31 Jul 2017

LONDON (ShareCast) - (ShareCast News) - Tekcapital, the university technology spinout specialist, boasted substantially increased revenues on Monday stemming from significant progress in its company portfolio.
For the six month period ended 31 May 2017, the company accumulated a total revenue of $3.8m up from just $247,262 in 2016 which reflected an increase in sales and an unrealised gain on the investment revaluation in Belluscura, a medical device company that is mulling an IPO.

Revenue from services increased 157% to $635.329.

A swing to a profit before tax was reported of $1.6m from a loss of $997,174 thanks to the substantial increase in revenues.

To take note of, the AIM listed company concluded a positive fundraising of approximately $3m before expenses.

Regarding Tekcapital's portfolio progress, Belluscura secured a private placement of approximately $1.7m.

Also, a new software app on both iOS and Google Play was launched and developed to search global university IP.

The company also acquired a new form of gesture recognition technology called Trace-it from the University of Central Florida.

Dr. Clifford Gross, the company chairman commented on the 'successful' half-year performance for the group: "We are pleased to report successful half-year performance for the Group. We have seen a significant increase in total revenue to $3,806,178, largely due to an unrealised profit on the revaluation of investments in portfolio companies, which has resulted in net income after tax of $1.6m.

"We have also seen a 153% increase in net assets to $7,974,906 on a year on year basis. We believe our unique approach of acquiring and commercialising university IP innovations, coupled with providing a range of IP value creation services to universities and corporates, has uniquely positioned us to create market value from university discoveries more efficiently than traditional IP investment companies".



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Tekcapital Market Data

Currency UK Pounds
Share Price 9.50p
Change Today 1.00p
% Change 11.76 %
52 Week High 17.00p
52 Week Low 6.00p
Volume 1,040,430
Shares Issued 198.19m
Market Cap £18.83m

Tekcapital Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
12.30% above the market average12.30% above the market average12.30% above the market average12.30% above the market average12.30% above the market average
56.10% above the sector average56.10% above the sector average56.10% above the sector average56.10% above the sector average56.10% above the sector average
Price Trend
1.14% below the market average1.14% below the market average1.14% below the market average1.14% below the market average1.14% below the market average
21.35% below the sector average21.35% below the sector average21.35% below the sector average21.35% below the sector average21.35% below the sector average
Income Not Available
Growth
3.63% above the market average3.63% above the market average3.63% above the market average3.63% above the market average3.63% above the market average
4.88% above the sector average4.88% above the sector average4.88% above the sector average4.88% above the sector average4.88% above the sector average

Tekcapital Dividends

No dividends found

Trades for 31-Oct-2024

Time Volume / Share Price
16:27 50 @ 9.35p
16:11 5,347 @ 9.35p
15:37 26,005 @ 9.00p
15:32 101,000 @ 9.06p
15:32 25,000 @ 9.11p

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