Intellectual property company IP Group Plc (IPO.L) on Tuesday posted wider loss for the full year, impacted by lower portfolio returns and revenue. The company also intends to extent its share buyback programme by 10 million pounds.
The company posted pre-tax loss of 206.7 million pounds in fiscal 2024, compared to loss of 176.3 million pounds last year.
The company's loss for the year was 207.0 million pounds, wider than loss of 174.4 million pounds a year ago. On a per share basis, loss came in at 19.97 pence from 16.53 pence in fiscal 2023.
Annual portfolio return and revenue was -189.5 million pounds, in contrast to -154.6 million pounds recorded in the prior year.
Looking ahead, the company said, "While the current macro environment remains challenging, the Group is appropriately sized, well financed and continues to believe it is well positioned for an improved appetite for high growth investments while remaining focused on delivering returns for shareholders."
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