The intellectual property (IP) group that specialises in commercialising university technology, said in its half-year statement that net assets increased by 27% to US$20.53mln at the end of May from US$16.13mln at the end of November.
Revenue rose to US$5.40mln from US$1.3mln in the corresponding six-month period a year earlier, with the investment company flagging up a net increase of US$4.79mln in the fair value of its portfolio companies that comfortably offset a slight decline in revenue from services to US$614,394 from US$639,561 in the same period a year earlier.
Tekcapital said service revenue covers roughly 63% of the company's current cost base, up from 55% the year before.
The unrealised profit on the revaluation of its investments gave a big boost to profit before tax, which ballooned to US$4.42mln from US$105,996 the year before.
“We are pleased to report successful half-year performance for the group, which has noted record total revenue, profits and net assets for the period whilst reporting important development milestones for its portfolio companies,” said Clifford Gross, the chairman of Tekcapital.
“We believe our unique approach of acquiring and commercialising university IP innovations, coupled with providing a range of IP services continues to deliver strong returns on invested capital,” he added.
Improved salt adhesion of MicroSalt during shipping and display represents an additional significant benefit to snack manufacturers based on the early feedback. https://t.co/FtF9x8tooS— Tekcapital PLC (@tekcapital) August 12, 2019