Tekcapital releases report boasting record total revenue
Anita Riotta
Company News- 3 min read
11:28, 22nd August 2019

Tekcapital (TEK) FOLLOW has released its report for H1 2019, boasting “record total revenue” that jumped from $1.28 million in 2018 to $5.4 million.

Chairman Dr. Clifford Gross believes such growth was attained through the company’s “unique approach of acquiring and commercialising university IP innovations, coupled with providing a range of IP services continues to deliver strong returns on invested capital.”

The report also featured a 27% increase in net assets to $20.53 million as well as a 36% reduction of cost of sales.

In effect, each of the Tekcapital’s portfolio companies did underpin the company’s overall surge in revenue. 

Salarius, a 97.5% TEK-owned food technology company, launched industrial production of MicroSalt and secured their first snack food customer. Lucyd, 100% owned by Tekcapital, signed Richard Sherman, NFL star, as Chief Brand Officer and launched Loud 2.0 Bluetooth designer eyeglasses.

Guident, TEK’s 100% owned company providing software solutions for autonomous vehicles, filed a US patent and finalized its go-to-market plan. Belluscura, 21.7% owned by TEK, has reported it is likely to receive FDA clearance in H1 2020 for its patented portable oxygen concentrator.

Looking towards the rest of 2019, Tekcapital seems to be ready to double down on its proven strategy.

For more news and updates from Tekcapital: FOLLOW

Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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