A decline in the value of listed small-cap and biotech companies weighed on IP 's (IPO) assets last year. A reduction in the share price of its investments traded on London's alternative market meant the fair value of the listed portfolio declined by £36.1m. Companies including Diurnal (DNL), Avacta (AVCT) and hVivo (HVO) suffered the worst losses. This resulted in lower valuation gains on the overall portfolio of just £6.5m, compared with £86.2m the previous year.
Helping out there was the unquoted portfolio, which enjoyed a £43.1m increase on the value of its investments. Oxford Nanopore - the group's most valuable holding - announced a £100m fundraising to expand its operations geographically, including across Asia. The company, which has designed and sells the world's only portable DNA sequencer, announced a new pipeline product, SmidgION, the smallest sequencing device that can be plugged into a smartphone.
IP's first two portfolio companies emerging from US university partners, Exyn Technologies and Uniformity Labs, raised a combined £5.4m in post-seed financing rounds via private share placings. IP committed £2.9m as part of these financing rounds. The group deployed a total £58.8m across 55 companies during the year, down from £75.9m the previous year.
IP (IPO) | ||||
---|---|---|---|---|
ORD PRICE: | 161.3p | MARKET VALUE: | £912m | |
TOUCH: | 161.1-161.3p | 12-MONTH HIGH: | 209p | LOW: 118p |
DIVIDEND YIELD: | nil | PE RATIO: | na | |
NET ASSET VALUE: | 136p | NET CASH: | £112m |
Year to 31 Dec | Turnover (£m) | Pre-tax profit (£m) | Earning per share (p) | Dividend per share (p) |
---|---|---|---|---|
2012 | 52.5 | 40.7 | 11.1 | nil |
2013 | 85.4 | 72.6 | 19.6 | nil |
2014 | 28.4 | 9.5 | 2.0 | nil |
2015 | 98.3 | 75.1 | 13.7 | nil |
2016 | 7.6 | -14.8 | -2.4 | nil |
% change | -86 | - | - | - |
Ex-div: na Payment: na |