IP Group halves interim loss, eyes PS250 million exits by 2027
IP Group PLC on Wednesday reported a narrower half-year loss and said its net asset value had stabilised, pointing to progress in its portfolio and confidence in hitting its target for exits over the next two years.
Shares in IP Group were down 5.5% to 52.44p in London on Wednesday morning.
The London-based investor in science and innovation companies said its pretax loss for the six months to June 30 was £42.9 million, compared with £111.1 million a year earlier. The loss from changes in the fair value of equity and debt investments narrowed to £35.1 million from £99.9 million.
NAV per share stood at 96.2 pence at June 30, down from 97.7p at the end of December, but the company said this had improved to about 100p as of September 12 following gains in listed holdings, including Oxford Nanopore Technologies PLC and Hinge Health Inc.
Total cash proceeds from exits in the half year were £30.3 million, nine times higher than the prior year’s £3.4 million. The portfolio was valued at £799.9 million, down from £837.4 million at December 31.
Gross cash rose to £237.3 million from £161.3 million a year earlier, with the group highlighting its strong liquidity and balance sheet.
During the period, IP Group invested £36 million across 21 companies and completed £25 million of share buybacks, retiring 6% of share capital. A further £20 million buyback extension has been launched, with 14% of share capital now retired.
Chief Executive Officer Greg Smith said: ‘The successful IPO of Hinge Health on the NYSE was a standout milestone, and together with gains in Oxford Nanopore, underscores the resilience and quality of our portfolio. With NAV per share now at 100p the group remains confident of delivering more than £250 million of exits from private company holdings by the end of 2027.’
Copyright 2025 Alliance News Ltd. All Rights Reserved.