IP Group Posts Pre-tax Loss For Full Year

IP Group Plc (IPO.L), a British intellectual property investor, on Wednesday posted a loss for 2022, that reflected the company's change in valuation of its stake in Oxford Nanopore or ONT.

For the 12-month period to December 31, 2022, the firm posted a pre-tax loss of 343.5 million pounds, compared with a profit of 454.6 million pounds of 2021.

The company's 2022 results were dominated by the change in valuation of its stake in ONT, essentially reversing the unrealized gain booked in 2021. Post-tax loss for the year amounted to 344.5 million pounds or 33.01 pence per share, of which 369.7 million related to ONT.

For 2021, profit after tax was at 449.3 million pounds or 41.68 pence per share, of which 297.1 million pounds were related to ONT.

Excluding ONT, the profit for 2022 was at 25.2 million, which was largely attributable to mark to market gains in the private portfolio, offset by some valuation declines in our other quoted companies.

Net Asset Value or NAV was at 132.9 pence per share, compared with 167 pence per share of 2021.

Operating loss stood at 344.3 million pounds as against previous year's profit of 456 million pounds.

Portfolio return and revenue was at -302 million pounds, versus 508.9 million pounds of 2021.

The Group will pay a final dividend of 0.76 pence per share, representing a total annual dividend of 1.26 pence per share, which is higher than last year's 1.20 pence per share. The dividend will be paid on June 22, to shareholders of record on May 26.

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