Interregnum on up
AIM-quoted technology merchant bank Interregnum said that its group turnover soared 112 per cent on last year’s results to £7.98m.
The company also said that pre-tax losses were down 34 per cent to £430,000 compared to £650,000 in its 2004 financial year.
Interregnum is based in Britain and America and specialises in investment advice in technology companies. It claims that the sector is rising again after the burst of the dotcom bubble and that tech companies offer more opportunities to make a quick buck than any other.
Interregnum said that the highlights of the year included the acquisition of AVM, an audio visual solutions provider this January. AVM saw its own like for-like revenues increase by 58 per cent in the five months to June 2005.
The company also strengthened its corporate finance advisory capabilities and appointed four new managing directors.
Chairman Ken Olisa said: “As a technology merchant bank our mission is to ‘transform technology into wealth’. We do this in a variety of ways — buying, selling, advising, investing in and operating companies across the technology spectrum — anything where our intellectual capital, network and access to financial capital can help create value.”
Olisa added that he believed the regeneration of technology stocks was sustainable.