Frontier IP, the Edinburgh-based company that helps universities to commercialise their research, has unveiled a surge in revenues and profits.
The firm, which has 17 companies within its portfolio, said revenues in the year to the end of June soared to almost £1.6 million, more than double the previous year’s figure of £786,000, reflecting a revaluation of its investments.
The fair value of its portfolio companies jumped by 118 per cent to £2.8m and pre-tax profits came in at £647,000 – well above the previous year’s £27,000.
Chief executive Neil Crabb said: “The group is making good progress in line with its strategy. I am particularly pleased to report the growth in value of our portfolio, as evidenced by the recent fundraisings.
“We continue to see strong commercial progress in our core portfolio, building the potential for further uplift in value.”
Andrew Richmond, chairman of Frontier IP, added: “Looking ahead, we are working on a number of new opportunities and intend to continue to grow our portfolio by taking more significant stakes and extending our sources of deal flow.
“In line with our strategy of broadening the range of capital available to our portfolio companies, we expect to see further portfolio fundraisings during the current financial year. We look forward to seeing further progress in these areas over the new financial year.”
Frontier IP’s portfolio includes Edinburgh-based health informatics firm Aridhia – a spin-out and joint venture between the University of Dundee, NHS Tayside and Sumerian Europe – and Adus DeepOcean, a spin-out from the universities of Dundee and St Andrews that delivers high-resolution sonar surveys and systems for the inspection of underwater assets.