IP Group Now Expects FY21 Profit To Be Above £425 Mln

IP Group plc (IPO.L), on Thursday, issued an unaudited pre-close update ahead of its results for the 12 months to 31 December 2021, and said it now expects its profit for 2021 to be above £425 million. In fiscal 2020, the company reported profit of £185.4 million.

Hard NAV per share is anticipated to be above 165 pence, a return of at least 31%. The company further noted that it is in "a strong financial position with net cash and deposits" of £276 million at year-end.

The Group's portfolio is well funded with portfolio companies having raised over £2 billion in 2021 versus last year's £1.1 billion.

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