LONDON (ShareCast) - (ShareCast News) - AIM-listed Tekcapital said its net loss narrowed in the first half of the year as revenue grew strongly.
The net loss for the six months ended 31 May fell 30.6% from the first half of last year to $659,936, as revenue surged 462% to $287,488. Tekcapital said the revenue increase was a direct result of clients using the company's intellectual property services and the first full six months of revenue recognition from the acquisition of InventionEvaluator.

The company, which provides technology and intellectual property services, said it continued its strategy to invest for future growth over the coming years with the addition of new staff, new routes to market and new product offerings.

In addition, it said exclusive licenses to 18 patents were acquired from US universities over the period, across diverse areas of technology and applications.

Dr. Clifford Gross, executive chairman, said: "During the first half of the year, we have established a strong foundation for future revenue growth including the commercial launch of our technology acquisition and out-license service.

"Furthermore, we believe that the 18 exclusively licensed intellectual properties we have acquired during the period, combined with increasing sales momentum, provide a strong foundation for further growth."

At 1437 BST, the shares were down 2.6% at 47.50p.

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