- Intellectual property investment group Tekcapital posted a large fall in first-half profit after it booked less revenue from re-valuations of its portfolio.

Pre-tax profit for the six months through June fell to $106k, down from $1.6m on-year, as revenue fell by about two thirds to $3.8m.

Services revenue rose 29% to $640k.

'We are pleased to report successful half-year performance for the group, which has noted increases in service revenue while achieving important development milestones for the successful commercialization of technologies for three of its portfolio companies,' chief executive Clifford Gross said.

At 9:22am: [LON:TEK] Tekcapital share price was -0.25p at 12.25p

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