Develop North (LON:DVNO) Announces Earnings Results

Develop North (LON:DVNO) released its quarterly earnings results on Friday. The company reported GBX 5.46 earnings per share for the quarter, Digital Look Earnings reports. Develop North had a return on equity of 5.31% and a net margin of 59.36%.

Develop North Trading Up 5.8%

Shares of LON:DVNO traded up GBX 4.50 on Friday, hitting GBX 82. The company had a trading volume of 660 shares, compared to its average volume of 28,587. The company has a market cap of £20.48 million, a PE ratio of 19.34 and a beta of 0.16. Develop North has a 52-week low of GBX 63 and a 52-week high of GBX 86. The business has a 50 day moving average of GBX 75.89 and a 200 day moving average of GBX 73.29.

About Develop North

Develop North PLC is a closed-end investment company listed on the main market of the London Stock Exchange and specialises in providing finance to the residential and commercial property sector.

The Company’s investment adviser is Newcastle upon Tyne based Tier One Capital Ltd. Tier One Capital is a wealth management and fund management firm providing financial advice services and bespoke tailored lending to the property development market.

Develop North PLC’s investment objective is to provide shareholders with a consistent and stable income and the potential for an attractive total return over the medium to long term, through a diversified portfolio of investments predominantly in the North East of England.

The Company has the financial strength, credibility and professionalism expected of a business listed on the London Stock Exchange, while also offering the flexibility, creativity and common sense of an approachable, local business.

Since the Company’s IPO in 2017, it has invested over £80 million of capital into the North of England and Scotland and has helped create over 12,000 jobs with a gross development value of over £275 million.