IP Group Reports Growth In Portfolio And Net Asset Value In 2018

LONDON (Alliance News) - IP Group PLC on Tuesday expressed confidence for the year ahead as its ...

Alliance News 26 March, 2019 | 8:26AM
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LONDON (Alliance News) - IP Group PLC on Tuesday expressed confidence for the year ahead as its net asset value grew by 4.4% in 2018.

The company, which invests in technology businesses, reported NAV per share of 116.1 pence at December 31, up from 111.2p in December 2017. The IP Group stock price was down 2.1% on Tuesday at 88.60p.

At the end of 2018, the value of the FTSE 250-listed company's portfolio had increased to GBP1.13 billion, from GBP1.10 billion the year before, as a result of the fair value movements and a net investment of GBP71.4 million.

IP Group deployed capital into nine new companies or projects during the year, five of which were located in the UK, two in the US and two in Australasia. The portfolio now consists of interests in 147 companies, with 122 in the UK, 23 in the US and two in Australasia.

The company reported net portfolio loss of GBP48.4 million compared to GBP94.2 million gain a year earlier. The major contributors to the unrealised losses on the revaluation of investments were pharma company Diurnal Group PLC, water technology firm Xeros Technology Group PLC, and immunotherapies specialist Circassia Pharmaceuticals PLC.

"The group had a disappointing financial performance in 2018, the most significant driver of which was share price declines of a number of AIM-listed portfolio companies," said Chair Douglas Flint.

"IP Group's portfolio is both well diversified and maturing, and we remain confident that it will deliver appropriate and meaningful returns for stakeholders over the medium to long term," added Flint.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
IP Group PLC 50.50 GBX -5.25 -

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