Fusion IP plc, through its subsidiaries, commercializes intellectual property (IP) that is developed at universities and similar establishments through the formation of, and investment in, spin-out companies in the United Kingdom. It has agreements with the University of Sheffield, the Cardiff University, the University of Nottingham, and Swansea University. The company also has a portfolio of approximately 20 companies in a range of engineering, nanotechnology, software, and medical sectors. In addition, it develops orphan drugs, cancer diagnostics and therapeutics, advanced wound care, novel new pharmaceuticals, and antibody therapies, as well as is involved in designing and testing micron...
The Sheffield Bioincubator
40 Leavygreave Road
Sheffield, S3 7RD
Fusion IP plc Reports Preliminary Consolidated Earnings Results for the Full Year Ended July 31, 2013
Oct 15 13
Fusion IP plc reported preliminary consolidated earnings results for the full year ended July 31, 2013. Total revenue and portfolio returns decreased to £3,035,000 from £4,750,000 last year, due to both a reduction in revenue and fewer funding rounds leading to lower net fair value gains on investments. Revenue, which includes the amounts charged to non-subsidiary spin-out companies for management services provided, license income and income generated by consolidated companies, decreased to £540,000 from £705,000 reported last year. The decrease relates to reduced revenue in subsidiaries. Loss from operating activities was £1,366,000 against income from operating activities of £390,000 last year. Loss before taxation was £1,204,000 against profit before taxation of £505,000 last year. The group generated an operating profit (excluding subsidiary spin-out costs and amortization) of £1,250,000 against £3,042,000 last year. Loss and total comprehensive loss attributable to owners of the parent was £959,000 or 1.14 pence per basic and diluted share against profit and total comprehensive profit attributable to owners of the parent of £669,000 or 1.00 pence per basic and diluted share last year. Net cash flows used in operating activities was £1,908,000 against £2,066,000 last year. Purchase of property, plant and equipment was £12,000 against £8,000 last year.
Fusion IP plc to Report Fiscal Year 2013 Results on Oct 15, 2013
Oct 9 13
Fusion IP plc announced that they will report fiscal year 2013 results on Oct 15, 2013