Stock Market News
Tekcapital shares jump as record revenues achieved
University technology firm Tekcapital saw its shares soar on Friday after the company recorded record revenues and operating profits in its latest set of full-year financial results.
The AIM traded company scored total revenues of $7.3m for the year ended 30 November, with the company swinging to a pretax profit of $4.2m versus a $2.6m loss for the previous year.
Revenues from products and services benefitted from growth in the Latin American market for technology transfer services with a 25% jump on the prior year figure to reach $0.95m.
Overall, profits were assisted by an unrealised gain on the revaluation of portfolio companies totalling $6.1m, against zero in 2016.
Clifford Gross, executive chairman of Tekcapital, said: "As a result of the quickening pace of innovation, an increasing number of companies are making ever faster and more disruptive use of innovative ideas sourced exogenously. With patented university and corporate technologies becoming an increasingly valued currency, we continue to believe that the market opportunity for the group is both large and should continue to grow apace."
In the immediate future the company said it intends to continue to invest in growth and that the strategy is likely to result in further increases in returns on invested capital and growth of assets.
As of 1539 BST, Tekcapital's shares were up 13.23% at 17.55p.
The AIM traded company scored total revenues of $7.3m for the year ended 30 November, with the company swinging to a pretax profit of $4.2m versus a $2.6m loss for the previous year.
Revenues from products and services benefitted from growth in the Latin American market for technology transfer services with a 25% jump on the prior year figure to reach $0.95m.
Overall, profits were assisted by an unrealised gain on the revaluation of portfolio companies totalling $6.1m, against zero in 2016.
Clifford Gross, executive chairman of Tekcapital, said: "As a result of the quickening pace of innovation, an increasing number of companies are making ever faster and more disruptive use of innovative ideas sourced exogenously. With patented university and corporate technologies becoming an increasingly valued currency, we continue to believe that the market opportunity for the group is both large and should continue to grow apace."
In the immediate future the company said it intends to continue to invest in growth and that the strategy is likely to result in further increases in returns on invested capital and growth of assets.
As of 1539 BST, Tekcapital's shares were up 13.23% at 17.55p.
Related share prices |
---|
Tekcapital (TEK) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price