Frontier IP Group 1H Pretax Profit Rose on Revaluation of Investments

By Anthony O. Goriainoff


Frontier IP Group PLC said Thursday that pretax profit rose in the first half of fiscal 2022 on the revaluation of its investments, and that it is mindful of the likelihood of a period of uncertainty, driven by a number of factors such as the war in Ukraine.

The London-listed intellectual-property specialist said that pretax profit for the six months ended Dec. 31 was 10.3 million pounds ($13.5 million), compared with GBP3.0 million for the first half of fiscal 2021. The company said the unrealized profit on the revaluation of investments was GBP11.9 million compared with GBP4.0 million at Dec. 31.

Revenue from services fell to GBP163,000 from GBP184,000 in the year-prior period.

The company said the fair value of its equity portfolio rose 37% to GBP43.9 million at Dec. 31, and that this was an 87% increase year-on-year.

“Across the portfolio we are seeing continued momentum, with companies reaching important inflection points marking significant commercial, technical and industry progress. We expect this progress to be reflected by strong positive news flow in the months to come,” Chief Executive Neil Crabb said.

Shares at 0905 GMT were up 6.50 pence, or 8.2%, at 85.50 pence.


Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com


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