KEY POINTS
• Profit before tax of £1.6m (2008: 6 months £0.5m; full year loss before tax £0.5m)
• Total revenue of £3.0m (2008: 6 months £3.0m; full year £3.8m)
- revenue from services of £1.3m (2008: 6 months £3.3m; full year £4.7m)
• EPS of 4.87p (2008: six months 0.21p; full year loss per share 1.38p)
• Net assets per share as at 30 June 2009 of 20.8p (2008: June 16.9p; December 15.9p)
• Cash balances as at 30 June 2009 of £4.5m (2008: June £3.6m; December £3.8m)
• Over 20% reduction in overheads on a like-for-like basis
• Venture capital fund management business continues to perform well
- six transactions completed
- £6m invested in portfolio companies of which Sigma’s funds contributed £0.6m
• Demerger and listing on PLUS of wholly-owned university IP commercialisation subsidiary, Frontier IP Limited
- successful placing of new shares to raise £0.633m (gross)
- already delivered two dedicated university venture funds
- first funding of portfolio client completed
• Completion of 7th limited partnership post period end
• Confident of long-term growth
David Sigsworth, Chairman, commented:
“While the first half of the year has been challenging, I am encouraged by the Group’s robust performance and that the balance sheet remains healthy with substantial cash balances. Our focus over the six months under review has been on managing the cost base tightly while continuing to explore growth opportunities.
Looking ahead, we remain cautious about trading conditions. However, the Company is in good shape; the Company’s portfolio holdings are held at highly conservative valuations and we have potentially significant initiatives underway in all areas of the business. The timing of fulfilment of these initiatives is difficult to predict as many factors are not within our control but we remain confident that we can continue to increase the value of our business, underpinned by a stable financial position.”
Enquiries
Sigma Capital Group plc
Graham Barnet, Chief Executive
T: 0131 220 9444
Sigma Capital Group plc
Marilyn Cole, Finance Director
T: 0131 220 9444
Biddicks
Katie Tzouliadis/ Sophie Lane
T: 020 7448 1000
Arbuthnot Securities
Tom Griffiths/ Neil Kirton
T: 020 7012 2000
Company website: www.sigmacapital.co.uk