13th Jan 2022 10:26
(Alliance News) - IP Group PLC on Thursday said it expects to report a sharp hike in profit for 2021, a year which the company considered successful due to a number of significant transactions.
For the year, the London-based investor in intellectual property-based businesses said it expects profit to more than double to GBP425 million from an already record GBP185.4 million posted in 2020.
IP Group attributed these to strong deals and transactions conducted in 2021, including the listing of Oxford Nanopore Technologies PLC on the London Stock Exchange's Main Market in September, from which IP Group made GBP84 million through the sale of shares.
In addition, there was the sale of liquid biopsy specialist Inivata Ltd in May 2021.
IP Group also expects its hard net asset value per share as at December 31 to be 165 pence, up 32% from 125.3p the prior year, while the group's portfolio companies raise over USD2.0 billion, compared to USD1.1 billion the prior year.
IP Group will publish its annual results in mid-March.
Shares in IP Group were up 5.3% at 115.60 pence on Thursday in London.
By Dayo Laniyan; [email protected]
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