Frontier IP Group (FIPP)

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 41.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 59.00p
  • 52 Week Low: 33.00p
  • Currency: UK Pounds
  • Shares Issued: 56.17m
  • Volume: 11,222
  • Market Cap: £23.03m

Frontier IP makes good progress with portfolio in first half

By Josh White

Date: Wednesday 27 Mar 2019

LONDON (ShareCast) - (Sharecast News) - University intellectual property commercialisation specialist Frontier IP Group reported a 27% improvement in the fair value of its portfolio to £11.51m in its half-year results on Wednesday, or which was an increase of 43% year-on-year.
The AIM-traded firm said total revenue increased 83% for the six month period ended 31 December to £2.18m, which toe board put down to a higher gain on the revaluation of investments of £1.98m.

Revenue from services rose 61% to £0.19m, while profit before tax was 138% firmer at £1.25m.

That increase was said to reflect the higher gain on the revaluation of investments, and accounting for greater administrative costs, which rose to £0.94m from £0.67m year-on-year.

Basic earnings per share were 172% higher at 3.18p, while net assets per share totalled 38.8p as at 31 December, up from 33.2p at the end of June and 32.0p one year prior.

Cash balances stood at £2.53m as at period end, rising from £1.11m at the end of June and £1.85m year-on-year, following a placing in November which raised £2.33m net of expenses.

"Our business model is based on proving the commercial value of intellectual property by working closely with universities, academics and industry," said chief executive Neil Crabb.

"Only when we are confident the technology works, can be scaled up, and meets a market need or demand, will we ask investors to make significant commitments to the portfolio companies.

"The first half of the year provides further evidence our approach is gaining traction with stakeholders."

Crabb noted that four companies announced collaboration agreements with industrial partners during the period, all of which he described as "among the leaders" in their respective sectors.

Three new spin outs joined the portfolio, he added, including the first two in Portugal - a market where Frontier IP aimed to be the market leader.

"Palintest, a subsidiary of FTSE 100 group Halma, has started the commercial roll out of bathing water testing kit SirenBW, based on Molendotech's IP, while Alusid gained strong support for its £1.34 million fundraising to support planning for manufacturing scale up.

"We are mindful of the risks in the group," Crabb explained.

"The nature of the early and development stage companies in our portfolio means their rate of progress or eventual success cannot always be assured."

However, he said the interim numbers were "strong" results.

"We have generated momentum on all fronts - new spin outs, industry partnerships, and raising funds from private and public sector sources - during the first half.

"The momentum has gathered pace into the second half of the year.

"That's why, based on trading for the year to date and what we see coming down the line, we anticipate that the outcome for the full financial year, ending 30 June 2019, will be ahead of management expectations."

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FIPP Market Data

Currency UK Pounds
Share Price 41.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 59.00p
52 Week Low 33.00p
Volume 11,222
Shares Issued 56.17m
Market Cap £23.03m

FIPP Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
35.27% above the market average35.27% above the market average35.27% above the market average35.27% above the market average35.27% above the market average
53.33% above the sector average53.33% above the sector average53.33% above the sector average53.33% above the sector average53.33% above the sector average
Price Trend
43.3% below the market average43.3% below the market average43.3% below the market average43.3% below the market average43.3% below the market average
60% below the sector average60% below the sector average60% below the sector average60% below the sector average60% below the sector average
Income Not Available
Growth
93.28% above the market average93.28% above the market average93.28% above the market average93.28% above the market average93.28% above the market average
93.94% above the sector average93.94% above the sector average93.94% above the sector average93.94% above the sector average93.94% above the sector average

FIPP Dividends

No dividends found

Trades for 29-May-2024

Time Volume / Share Price
14:42 10,000 @ 41.30p
14:35 30 @ 41.40p
11:00 98 @ 41.40p
11:00 94 @ 40.00p
11:00 94 @ 40.00p

FIPP Key Personnel

CEO Neil Crabb
CFO Jo Stent

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