Imperial Innovations reports profits

Imperial Innovations, the technology commercialisation and investment group, has posted pre-tax profits of £5.3m for the year ending 31 July 2009.

The London-based group also reported an increase in its net proceeds from the sale of investments, from £3.3m to £3.9m a year earlier.

Total revenues were £4.3m compared to £5.3m a year earlier as a result of reduced up-front fees on licensing and technology transfer that were partially offset by increased royalty income and corporate finance fees.

However, royalty revenue was up 33 per cent to £1.2m while net asset value increased from £80.3m in 2008 to £85.6m. The improved results reflects a refocusing of the company’s investments on fewer, higher quality opportunities, following a £6.7m loss a year earlier.

Throughout the financial year, the group invested £14.4m in over 20 companies, while its portfolio of businesses was raised in total to over £41m.

In addition, the group sold four businesses, funded six new technology businesses, filed 50 patents and declared 328 inventions in the year leading to the end of July.