Frontier Ip Share News (FIPP)

LONDON (Alliance News) - Frontier IP Group PLC said on Tuesdaythat profit and revenue rose in the first half of its financial year, with the value of its portfolio also rising.

Frontier IP, a specialist asset manager focused on commercialising intellectual property, said the fair value of its portfolio increased 19% to GBP8.0 million as at December 31, compared to GBP6.8 million at June 30.

Total revenue increased to GBP1.2 million from GBP843,000 over the six months to December 31, with the increase reflecting a higher gain on the revaluation of investments of GBP1.1 million compared to GBP711,000 a year before.

Profit before tax increased 67% to GBP524,000 from GPB314,000.

"We are starting to see strong interest in our portfolio companies from a growing number of industry leaders, a clear indication that our business model and core strategic focus is paying off. We are investing in our people and are confident that we are building a strong base on which we can deliver further progress during the second half of the financial year and beyond," said Frontier IP.

Shares in Frontier IP were up 1.8% at 86.00 pence on Tuesday.