IP Group falls to a loss

Intellectual property marketing firm IP Group said yesterday that it had slipped to a first-half pre-tax loss of £4.9m, compared to £15.8m a year earlier, as the economic crisis hit its portfolio performance. IP, which takes university research and turns it into commercial outfits, reported a 26 per cent fall in net assets and said the economic environment continued to be challenging for all businesses, including early stage businesses such as those in which it invests. Net assets fell to £169.5m from £229.8m.