Shares in Frontier IP fell back 9.47% after the Scottish tech investment firm plunged into the red.
Returns for the six-month period to December 31 show revenues at the Edinburgh-based firm which has a number of Dundee and St Andrew university spin-out companies in its portfolio fell to £244,000 in the period from £345,000 a year earlier.
The company also reported a pre-tax loss of £242,000 for the period, compared with a £3,000 profit a year earlier.
However, despite the loss, chairman Andrew Richmond insisted that “good progress” had been made.
“We continued to pursue the growth of our portfolio, and this was reflected in a 19% increase in the fair value of our portfolio compared to June 30 2014, and in a 68% increase compared to December 31 2013.”
