“It will be a long time before emerging nations can replicate a Harvard or an Oxford,” Chief Investment Officer Mike Townend said in a phone interview. “Our intellectual property in the U.K., and clearly in the U.S. as well, has extremely strong barriers to entry.”
IP Group’s adjusted pretax profit was 31.2 million pounds ($49.2 million) in the six months through June, compared with a 1.1 million-pound loss a year earlier, the London-based company said in a statement today. The value of its 10 largest holdings rose to 132.2 million pounds at the end of June from 84.4 million pounds a year earlier.
IP Group investments include medical, chemical and renewable energy technologies, ranging from polymers for removable, degradable chewing gum produced by Revolymer Plc (REVO) to systems for water-saving washing machines from Xeros Ltd.
IP Group shares rose as much as 4.7 percent in London and were up 2.9 percent at 127.8 pence as of 1:06 p.m. The stock has advanced 63 percent this year, giving the company a market value of 467.4 million pounds. The shares have retreated from a five- year high of 155 pence at the close of trading on July 6.
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