Intellectual property commercialisation company, Frontier IP, that has worked with both Dundee University and St Andrews University, has reported a drop in revenue that has been reflected in a drop in its shares.
Frontier IP, a UK-based firm that assists universities in commercialising their intellectual property, has seen its shares drop 9.47% after it reported a revenues drop.
The company, whose portfolio contains spinouts from both Dundee University and St Andrews University, reported six-month returns ending on 31 December of £244,000 ($361,000) compared with £345,000 from the same period in the previous year.
In the same six-month period the company reported a pre-tax loss of £242,000. The previous year had the company declaring a £3000 profit.
Andrew Richmond, chairman of Frontier IP, said: “We continued to pursue the growth of our portfolio, and this was reflected in a 19% increase in the fair value of our portfolio compared to 30 June 2014, and in a 68% increase compared to 31 December 2013.”
