Frontier IP revenues up 27%

Frontier IP's total revenue increased by 27% to £2,030,000 in the year to the end of June - reflecting an unrealised profit on the revaluation of investments of £1,809,000 (2015: £1,421,000).

Revenue from services increased by 30% and profit before tax increased by 75% to £1,131,000 (2015: £647,000).

Basic earnings per share increased to 4.08p (2015: 2.76p) and cash balances at 30 June stood at £771,000 (2015: £636,000). Net assets per share as at 30 June 2016 totalled 24.9p (2015: 20.9p).

Chief executive Neil Crabb said: "The Group is making good progress in line with its strategy. I am particularly pleased to report the growth in value of our portfolio. We have expanded our network of universities and have increased the size of the equity stakes we are entitled to receive.

"Our pipeline continues to show healthy expansion, which we expect to convert to growth in our Core Portfolio in the current financial year. We are also seeing strong commercial progress in our existing Core Portfolio, together building the potential for further uplift in value."