SINGAPORE (Nov 9): The Trendlines Group saw its earnings for 3Q17 nearly double to US$3 million ($4.1 million) from US$1.6 million a year ago on higher total income due to fair value gains.
Total income for the Israel based, Catalist listed group grew 65.7% over the quarter to US$6.8 million from US$4.1 million in the previous year.
The growth in total income was mainly attributable to an eightfold growth in its gain from changes in fair value of investments in portfolio companies to US$5.3 million as compared to US$0.6 million a year ago.
This was largely a result of the completion of fund-raising exercises at favourable terms; general commercial and/or technological progress demonstrated in some portfolio companies; as well as the exit sale of MitrAssist Medical which amounted to gains of US$0.6 million over the quarter; says the group in its filing to the SGX on Thursday.
In line with the higher income, total expenses grew 11.4% to $2.7 million from $2.4 million previously.
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 company.
Shares in Trendlines closed 1.8% lower at 16 cents on Thursday.
