Fledgling company incubator Frontier IP PLC (LON:FIPP) saw a 44% increase in the fair value of its portfolio in 2016.
In its half-year results it revealed the fair value had risen to £5.40mln by the end of 2016, up 44% year-on-year and up 15% in the second half of the year.
Net assets per share rose to 26.0p from 24.9p at the end of June. The company’s shares currently trade at around 42p, down 1.8% on the day.
In the half-year period revenue from services rose 21% to £132,000 from £109,000.
The company includes the revaluation of assets in its total revenue number, which eased to £843,000 from £992,000 the previous year as the revaluation boost this time round was lower, at £843,000, than the previous year, when it was £883,000.
The lower revaluation lift also fed through to pre-tax profit, which declined to £314,000 from £549,000 in the second half of 2015.
With a successful fund-raising under its belt, the group expects to see further development of its portfolio over the remainder of the financial year and beyond.
"We continue to grow the core portfolio, with the addition of Tarsis and having secured our second partnership in Portugal. Following our successful group funding round, we look forward to the delivery of our differentiated approach to building and developing our strong portfolio," said Frontier’s chairman, Andrew Richmond.