Allied Minds PLC - Boston, Massachusetts-based intellectual property commercialisation company focused on early stage technology businesses - Pretax loss narrows in first half to USD1.5 million from USD14.8 million, revenue more than doubles to USD219,000 from USD110,000. Declares no interim dividend.
Warns that some of its portfolio companies haven't made much progress and action is being taken regarding this. "The board can ensure it is optimally placed to take timely decisions based on up to date information. This approach has ensured that decisive actions are taken, even if these are sometimes difficult such as the decision to liquidate Spin Memory, and consider options to sell Spark Insights," it says.
In August, Allied Minds reported "excellent progress" in some of its portfolio companies, with Federated Wireless Inc winning a multi-million-dollar 5G contract with the US Department of Defense, Orbital Sidekick launching a hyperspectral imaging satellite and BrideComm Inc starting sales of its Optical Inter-Satellite Link terminals.
Current stock price: 23.00 pence, up 0.7% on Wednesday
Year-to-date change: down 29%
By Josie O'Brien; josieobrien@alliancenews.com
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