IP Group loss narrows

INTELLECTUAL property commercialisation company IP Group reported a narrower full-year pretax loss, despite a slight decline in net assets, and said it was confident of its prospects in the medium to long term.
By The Newsroom
Published 2nd Mar 2010, 08:59 BST

The Leeds-based firm, which takes university research and turns it into commercial outfits, reported a pre tax loss of 6.5m for the year ended Dec 31, compared with a loss of 40.5m a year earlier.

Net assets fell marginally to 171m from 173.8m.

The company said it had a good pipeline of opportunities from its partners, helped by its strategic deal with smaller rival Fusion IP.

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In November, IP Group said it conditionally agreed to buy a 19.8 per cent stake in Fusion and acquired co-investment rights in all future Fusion portfolio companies.

IP Group said it had a strong balance sheet with cash and deposits of 28.1m, no borrowings and a diversified portfolio of investments.

Related topics:LeedsFusion