LONDON--Frontier IP Group PLC (FIPP.LN) reported Monday a 75% rise in fiscal 2016 pretax profit thanks to a higher revenue and growth in the value of its portfolio, and said it is planning some fundraisings in the new fiscal year.

The company focused on selling intellectual property made a pretax profit of 1.1 million pounds ($1.3 million) for the 12 months ended June 30, much more than GBP647,000 made a year ago, after revenue rose 27% to GBP2 million.

The fair value of its portfolio companies increased by 65% to GBP4.7 million.

Shares at 0820 GMT up 2.75 pence, or 8.7%, at 34.50 pence valuing the company at GBP11 million.

Write to Olga Cotaga at olga.cotaga@wsj.com, Twitter @OlgaCotaga

(END) Dow Jones Newswires

November 21, 2016 03:38 ET (08:38 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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