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Venture capital firm IP Group unveiled its maiden dividend after reporting swinging to an annual profit as portfolio gains boosted net asset value.
For the year ended 31 December 2020, pre-tax profit was £186.1 million compared with a loss of £78.8 million year-on-year.
The fair value of portfolio increased to £1,162.7 million from £1,045.6 million, boosting its net assets to £1,331.9 million from £1,141.9 million.
The company recommended a maiden dividend of penny per share.
'Overall, we believe the outlook for the division entering 2021 continues to be positive,' the company said.
At 8:23am: (LON:IPO) Ip Group PLC share price was 0p at 84.8p