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Intellectual property investor Tekcapital posted an 18% rise in annual profit underpinned by a rise in services revenue and increase in the value of its portfolio companies.
Pre-tax profit for the year through November increased to $5.5m, up from $4.6m on-year.
'I'm glad to report that through the collective efforts of our dedicated and capable team we have achieved record results in 2019,' executive chairman Clifford Gross said.
'The continued development of our portfolio companies combined with improved service revenues has resulted in solid financial performance, whilst we simultaneously reduced our operating expenses by 7%.'
At 9:25am: (LON:TEK) Tekcapital share price was +2p at 19p