(Correcting profit after tax growth percentage change.)
Tekcapital PLC on Friday said net assets more than doubled to $68.1 million at the end of its most recent financial year from $32.7 million a year before, saying the total was the highest in the company’s history.
In the year that ended on November 30, the London-based intellectual property investor’s net asset value per share increased 37% to $0.48 from $0.35 in 2020.
Tekcapital’s profit after tax was $26.4 million in the recent year, up 243% from $7.7 million in the previous year.
The company noted it raised a total of $9.4 million in new equity from share placings during financial 2021, up from $2.6 million in financial 2020.
Executive Chair Clifford Gross said: ‘We are glad to report very strong full-year performance for the group, with net assets increasing by 108% to $68 million, a record level. Our key portfolio companies are progressing well and should reach significant additional milestones by the end of 2022.
‘We are excited about what our portfolio companies have achieved in 2021 and their prospects for 2022.’
Tekcapital shares were down 3.1% at 33.90 pence each on Friday afternoon in London.
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