SINGAPORE (Aug 7): Trendlines, the investor, incubator and developer of early-stage, high-medical and agricultural technology companies in Israel, has reported 2Q earnings of US$2.4 million compared to a loss of US$4.6 million a year ago.
This came after total income swung to a gain of US$5.4 million from a loss of US$2.9 million.
There was a gain in fair value of investments of US$3.8 million compared to a loss of US$4.7 million due to a net increase of US$0.7 million in the fair market value of various portfolio companies as well as an increase of US$3.2 million in the fair value of the Most Valuable Portfolio Company.
The group also recorded income from services to portfolio companies of US$1.1 million from US$0.9 million due to higher number of portfolio companies.
Total expenses fell 11.8% to $2.3 million.
Trendlines says it remains committed to its stated plans in the medical and agricultural technologies fields and believes that the continued need for new and improved products in these fields represents both investment and liquidity opportunities for the group.
The group is also exploring potential exits of some of its portfolio companies. Additionally, the company is periodically approached by various parties interested in investing in the company.
Shares in Trendlines closed 0.2 cent higher at 14.5 cents.
