Duke Royalty more than trebles profit on surge in revenue
Source - SMW
Duke Royalty said profit more than trebled in the first half of the year on a surge in revenue as investments in royal partners boosted growth.
For the six months ended 30 September 2019, pre-tax profit rose to £3.7m from £1.1m on-year as total income surged 119% to £5.9m and operational cash flow jumped 195% to £3.9m.
The company completed two follow-up investments into Welltel Ireland and Step Investments, totalling £1.65m during the first half of the year.
Looking towards 2020, Duke said it was 'confident' momentum would continue as it seeks to further expand and balance its portfolio.
At 8:11am: (LON:DUKE) Duke Royalty Limited share price was +0.7p at 48.4p