Trading Statement

RNS Number : 5080L

IP Group PLC

12 January 2016

 

FOR RELEASE ON

12 January 2016

IP Group plc - Trading statement

IP Group plc (LSE: IPO) ("IP Group" or "the Group" or "the Company"), the developer of intellectual property-based businesses, issues the following trading update for its financial year ended 31 December 2015.

The Group has seen significant activity within its portfolio during the second half of 2015, with a number of its portfolio companies announcing commercial developments and substantial fundraisings. The Group now expects 2015 to be its most successful year in terms of financial performance since its formation.

Significant transactions announced by portfolio companies in the second half of 2015 include the admission of Diurnal Group plc to AIM in December, raising £30m before expenses, and a further three of our quoted companies (Xeros Technology Group plc, hVIVO plc and Applied Graphene Materials plc) announcing significant fundraisings, totalling approximately £70m before expenses. Two of the Group's unquoted companies, First Light Fusion Limited and Ultrahaptics Limited, announced financings of £23m and £10m respectively.

The Directors now anticipate that the fair value of the Group's portfolio will be in excess of £550m at 31 December 2015, compared to £350m at 31 December 2014. This would represent a net unrealised fair value increase, excluding net investment, of more than £85m during the year (2014: £21m).

During 2015, the Group provided £76m (2014: £47m) of incubation, seed and development capital to its portfolio companies and a further £40m strategic investment into Oxford Science Innovations plc.

At 31 December 2015, the Group's gross cash and cash equivalents were in excess of £175m (2014: £97m).

The above information is presented on an unaudited basis. It is anticipated that the Group will make its Annual Results Release for the year ended 31 December 2015, based on its audited statutory accounts, on Tuesday 1 March 2016.

For more information, please contact:

IP Group plc	www.ipgroupplc.com
Alan Aubrey, Chief Executive Officer Greg Smith, Chief Financial Officer Liz Vaughan-Adams, Communications	[phone] [phone]/[phone]
FTI Consulting
James Melville-Ross/Simon Conway/ Victoria Foster Mitchell	[phone]

Notes for editors

About IP Group

IP Group is a leading intellectual property commercialisation company which focuses on evolving great ideas, mainly from its UK and US partner universities, into world-changing businesses. The Group has pioneered a unique approach to developing these ideas and the resulting businesses by providing access to business building expertise, capital (through its 100%-owned FCA-authorised subsidiary IP Capital), networks, recruitment and business support. IP Group has a strong track record of success and its portfolio comprises holdings in over 90 early-stage to mature businesses across four main sectors -- Biotech, Cleantech, Healthcare and Technology. The Company is listed on the Main Market of the London Stock Exchange under the code IPO.

For more information, please visit our website at www.ipgroupplc.com.

ENDS

 

END

 

 

TSTEAXFFFFFKEFF