IP Group plc (IPO.L), a private equity and venture capital firm, Tuesday reported loss before tax of 111.1 million pounds for the first half, higher than 53.4 million pounds loss in the same period a year ago, primarily due to higher loss on investments.
The company posted change in fair value of equity and debt investments of 99.9 million pounds loss compared with 27.5 million loss last year.
Operating loss increased to 112.5 million pounds from 55 million pounds in the prior year.
Net loss was 109.9 million pounds or 10.24p per share, wider than 54.5 million pounds or 5.20p per share loss a year ago.
Portfolio return and revenue was a loss 99.2 million pounds, up from a loss 41.3 million pounds in the previous year.
NAV as on June 30 was 1.072 billion pounds or 104.7p per share, lower than 1.313 billion pound or 126.7p per share a year ago.
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