Analysts at Canaccord Genuity nudged up their target price on diversified financial group Duke Royalty from 53.0p to 54.0p on Thursday, citing “material growth” throughout the trading year.
Duke Royalty Ltd – Guernsey-based royalty finance provider – Says it has successfully raised GBP18.5 million in placing of 1.5 million shares at 35 pence each, as well as a further GBP1.5 million through PrimaryBid offer. Placing is conditional on shareholder approval at the extraordinary general meeting on May 26.
Specialist domiciliary care company Tristone Healthcare has expanded with the acquisition of a South West care home operator after securing a £2.3m follow-on investment from Duke Royalty.
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Shares in royalty finance provider Duke Royalty (DUKE:AIM), added 4.5% to 41p following the release of its third quarter trading update which showed a record quarter for deployment and ‘normalised’ cash revenue.
Finance provider Duke Royalty said on Thursday that it had continued to convert its “robust pipeline” in the third quarter, securing two additional partners and completing three follow-on investments into existing partners.
Healthcare provider Tristone has secured a £10.5m investment from Duke Royalty in a partnership that aims to grow the business quickly through acquisitions.
Duke Royalty has realised half year results and posted a very respectable 78% increase in cash revenue for the period.
Revenue rose to £7.8 million in the six months to 30th September 2021, up from £4.4 million in the same period last year.
Shares in alternative capital provider Duke Royalty (DUKE:AIM) gained 4.5% to 46p after the company reported strong first half growth in revenues and profit and said it was confident of exceeding market expectations for the full year to 31 March 2022.
