Tekcapital PLC (LON:TEK), an international provider of technology and intellectual property services, has told investors that it has laid a “strong foundation” for future growth after investing heavily in the six months to the end of May.
In a busy first half, the firm established a new trading company called Belluscura which aim to provide premium proprietary medical devices at affordable prices.
It also purchased assets from Vortechs Group and acquired the exclusive licences to several intellectual properties.
The investments contributed to a US$1mln net loss for the period, from US$660,000 a year earlier, while cash was down to US$1.94mln from US$3.79mln.
Tekcapital told investors that it is confident that this period of heavy investment has sown the seeds for future success.
“We have made significant progress towards achieving the objectives that we set out last year and have established a strong foundation for future revenue growth with our numerous technology acquisitions,” said executive chairman Clifford Gloss.
The company expects to make “significant out-licence progress” by the end of its current financial year, while it also hopes to reap the benefits of the integration of the Vortechs business.
It added that it was excited about its IP portfolio investments given the fact it operates in “a market place of such huge, unrealised potential.”
Tekcapital acquired some interesting patents in the half, including one for a technology that allows your shoes to recharge your mobile phone while you walk, as well as the patent for µSalt™, which is a potential replacement for salt in foods.
Shares were down 2p, or 6%, to 31p.