Key Financial Information (£m)

Balance Sheet 2013 2012 2011
Portfolio value 285.9 181.8 123.8
Cash and deposits 24.1 47.9
60.5
Net asset value excluding intangibles* 315.5 236.6
189.1
Net asset value 337.0 263.1
221.6
Income Statement 2013 2012 2011
Change in fair value of portfolio 82.4 38.0
0.9
Profit/(loss) on realisations from portfolio (0.2) 11.8
2.3
Revenue from services and other operating income 2.4 2.3 2.1
Administrative expenses - change in fair value of Oxford equity rights asset (5.0) (6.0) (6.0)
Administrative expenses - other (8.2) (6.7) (6.0)
Profit/(loss) for the period after tax 72.6 40.7
(5.5)
Cash Flow Statement 2013 2012 2011
Investments in portfolio 27.5 26.3
14.3
Realisations from portfolio 5.5 16.7
3.7
Net cash outflow from operating activities** 1.9 2.6
3.0

All amounts are displayed in £m.

Information is extracted from IP Group’s audited annual financial statements.

* Net asset value attributable to shareholders excluding intangibles comprises all assets and liabilities of the Group excluding intangible assets and the Oxford equity rights asset.

**Net cash outflow from operating activities excludes cash flows to/from fixed term deposits.