16th Aug 2021 14:31
Tekcapital PLC - London-based intellectual property investor focused on universities - Shares it is confident of increases in returns on capital invested in the next two years, following rise in pretax profit and revenue in first half of 2021. Reports pretax profit for six months ended May 31 of USD13.0 million versus USD1.9 million a year earlier, and revenue of USD14.5 million versus USD2.9 million. Net assets at half year are USD51.1 million, up from USD32.7 million a year earlier.
"We believe that when you couple commercialization ready, compelling university IP with strong senior management, you increase the probability that vibrant companies will emerge, net assets will grow, returns on invested capital are likely to increase and exits, if they occur, should occur faster," said Chief Executive Clifford Gross.
Current stock price: 23.67 pence, down 9.7% Monday
Year-to-date change: up 51%
By Josie O'Brien; [email protected]
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