Edinburgh’s Frontier IP stepping ahead in style

Frontier IP, the Edinburgh business that specialises in the commercialisation of intellectual property developed by universities, expects to take “further strides forward” in the second half after posting a sharp rise in first-half revenues.

The firm, which is quoted on the Alternative Investment Market, said total revenue increased 41 per cent to just under £1.2 million in the six months to 31 December.

Profit before tax rose 67 per cent to £524,000 while basic earnings per share lifted 15 per cent to 1.17p.

The firm said it had enjoyed strong commercial progress during the first half, reflected in a 49 per cent rise in the fair value of its portfolio to a little over £8m.

Chief executive Neil Crabb said: “These encouraging results and, in particular, the near 50 per cent growth in the value our portfolio value year-on-year increasingly demonstrate the strength of our business model.”