IP Group news 0

IP Group plc (LSE: IPO), the UK's leading intellectual property commercialisation company, today announces its interim results for the six months ended 30 June 2007.

Financial highlights

• Profit after taxation: £18.8m (H106: £30.3m; FY06: £40.1m)
• Fair value of equity investments: £107.3m (H106: £72.7m; FY06: £87.4m)
• Cash proceeds from sales of equity investments: £2.8m (H106: £3.0m; FY06: £3.1m)
• Cash invested in spin-out companies: £3.0m (H106: £1.9m; FY06: £8.5m)
• Cash balance at 30 June 2007: £47.8m (H106: £57.0m; FY06: £51.3m)
• Total Equity: £200.2m (H106: £166.7m; FY06: £179.2m)

Portfolio and Operational highlights

• Modern Water plc listed on AIM with a market capitalisation of approximately £70.0m at admission
• Green Chemicals plc (formerly Perachem Limited) listed on PLUS Markets
• Number of spin-out companies increased to 60 (H106: 44; FY06: 53)
• Five successful follow-on funding rounds for spin-out companies
• Modern Waste Limited launched to establish and exploit a portfolio of innovative sensing, processing and recycling and control technologies
• Photopharmica Holdings Limited announced successful Phase II data

Post period end highlights

• IP Venture Fund completes second closing with total commitments to the Fund of £31m
• IQur Limited and Ilika Technologies Limited complete successful follow-on private funding rounds
• Receipt by the Group of £3.9m of cash proceeds from the sale of shares, bringing total cash proceeds from sales of equity investments in the year to date to £6.7m

Commenting on the Group's interim results, Alan Aubrey, Chief Executive of IP Group, said:

"IP Group has had another productive six month period with two of our portfolio companies achieving listings and significant progress being achieved not only across the rest of our portfolio but also within the Group. The quality of our spin-out companies has remained consistently high with the breadth and depth of the portfolio having considerably improved. While, given the nature of our business, it will always be difficult to predict the timing of gains from the portfolio, I remain confident that our growing number of spin-outs will generate significant returns for our shareholders. The second half of the year has started well with two follow-on private funding rounds and the completion of the second closing in IP Venture Fund bringing total commitments to £31m."

For more information, please contact:

IP Group plc	020 7444 0050
Alan Aubrey, Chief Executive Officer William Turner, Group Financial Controller
Liz Vaughan-Adams, Communications	020 7444 0062 / 07979 853 802

Further information on IP Group is available on our website: www.ipgroupplc.com

Buchanan Communications	020 7466 5000
Tim Anderson, Mary-Jane Johnson, Mark Court

Interim results can be viewed in the PDF file format (PDF 75 KB opens in a new window)