Preliminary Results 2008
25th July 2008
Ipso Ventures plc (AIM: IPS) ("IPSO" or the "Company"), the creator of commercial value from technology, is pleased to announce its unaudited preliminary results for the year ended 30 April 2008.
Highlights
- First Loughborough spin-out, Axilica Limited, incorporated in September 2007
- Value enhancing "assets" added to all existing investments
- Significant progress achieved in framework agreement with Loughborough University
- Additional seed investment in three existing spin-out companies
- Initial investments entering growth phase and achieving first revenues
- Second Loughborough spin-out, Polyfect Solutions Limited, incorporated since the year end
Simon Hunt, Chairman of IPSO, said: "We are pleased to report material progress in the year to April 2008. Our relationship with Loughborough University continues to flourish with our first spin-out investment, Axilica Limited, in September 2007 and, more recently, our second spin-out, Polyfect Solutions Limited. We have also continued to develop our technology access outside Loughborough. We have already taken prudent steps to optimise our cost base and, in revenue terms, we are working towards achieving our first exit during this financial year."