Switch to Aim helps Frontier cut losses

In its maiden results since being split from Sigma Capital in January, Aim-quoted Frontier yesterday revealed that its loss before tax had been reduced to £269,000 in the year to 30 June from £326,000.

Revenues from services rose to £158,000 from £142,000, with a £149,000 revaluation of its assets pushing total turnover up to £307,000 from the previous year’s £94,000. That period had been affected by a write-down.

House broker Arbuthnot expects the company to break even in its current financial year as the value of its investments rises. Frontier executive chairman Neil Crabb told The Scotsman: “I’m pleased with the increase in activity since the start of the financial year and we’re exploring opportunities with a number of other potential partners.”

The firm switched from the Plus stock market to Aim in January, raising £1 million. In May, it signed a deal to help Plymouth University commercialise its research, building on existing agreements with Dundee University and Aberdeen’s Robert Gordon University.

Crabb also revealed that it had added two spin-outs from Dundee University to its portfolio: Glycobiochem, which makes software for modelling chemicals and produces chemical ingredients; and Kinetic Discovery, a drug-discovery firm that also offers services to third parties.