2014 HIGHLIGHTS
Positive progress against key strategic objectives
- Net assets increased to £526.2m (2013: £337.0m)
- 70% increase in capital provided to portfolio companies: £46.8m (2012: £27.5m)
- Portfolio of 90 companies (2013: 72)
- £100m (before expenses) raised through issue of new equity capital in February 2014
- Acquisition of Fusion IP plc completed and now fully integrated within the Group, bringing additional expertise and broader portfolio
- Further expansion into the US; now engaged with Princeton, Pennsylvania and Columbia universities.
Financial highlights
- Net assets excluding intangibles and the Oxford equity rights asset increased to £451.3m (2013: £315.5m)
- Net cash and deposits as at 31 December 2014: £97.3m (2013: £24.1m)
- Adjusted profit before tax of £16.2m (2013: £77.6m), excluding £6.7m reduction in fair value of Oxford Equity Rights asset and amortisation of intangible assets (2013: £5.0m)
