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Share Price: 31.75
Bid: 31.50
Ask: 32.00
Change: -0.25 (-0.78%)
Spread: 0.50 (1.587%)
Open: 32.00
High: 32.00
Low: 31.75
Prev. Close: 32.00
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Duke Royalty posts strong quarter, makes follow-on investment

Fri, 29th Dec 2023 10:03

(Sharecast News) - Duke Royalty reported a strong set of third-quarter results on Friday, as well as a follow-on investment in its existing royalty partner, Creō-Tech Industrial Group.

The AIM-traded company said it anticipated achieving recurring cash revenue of £6.3m in the period, signifying a noteworthy 12% increase compared to the prior year's £5.6m.

It also showed growth compared to the second quarter, which saw Duke Royalty deliver record recurring cash revenue of £6.2m.

In December, Duke further solidified its partnership with Creō-Tech by investing an additional CAD 8.6m (£5.1m), resulting in a total exposure of CAD 27.1m/

The investment was earmarked to facilitate the refinancing of Creō-Tech's existing senior lender.

During the quarter, Duke also expanded its investment team by welcoming two new associate hires.

The board said the move positioned the company to seize opportunities in the current market environment.

Additionally, Duke Royalty embarked on a comprehensive review of its branding and positioning during the quarter.

Although the review was still in progress, the board said it expected to share changes on its completion in the next quarter.

"We are pleased to report that despite the ongoing macroeconomic uncertainties, we continue to deliver revenue growth, with the third quarter FY24 on course to maintain this upward trend, underpinning our stable dividend which at the current share price, represents an approximate 9% yield," said chief executive officer Neil Johnson.

"We believe the company's rebrand, alongside our expanded investment team, will position Duke to take advantage of the abundance of new opportunities in the private credit market, which has become increasingly mainstream in the SME lending space."

Reporting by Josh White for Sharecast.com.

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5 Apr 2024 13:52

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Comments and questions to newsroom@alliancenews.com
  
A full 14-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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Duke Capital exits investment in streetlight maker Fabrikat

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6 Mar 2024 21:27

IN BRIEF: Duke Capital sells investment in Swiss business, Fairmed

Duke Capital Ltd - Guernsey-based provider of royalty finance to companies in UK and Europe - Sells investment in Fairmed Healthcare AG, a Switzerland-based provider of high-quality generic prescription medicines, over-the-counter pharmaceuticals, dermocosmetics and dietary supplements in various EU countries. Receives EUR11.4 million cash providing Duke with additional liquidity for new deployments into its pipeline of long-established, profitable businesses. Notes payment of EUR6.0 million has been received with the balance of EUR5.4 million to be paid by March 31.

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6 Mar 2024 14:03

Duke Capital exits investment in Fairmed Healthcare

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21 Feb 2024 17:00

IN BRIEF: Duke Capital name change confirmed, to take effect on AIM

Duke Capital Ltd - Guernsey-based provider of royalty finance to companies in UK and Europe - Says name to Duke Capital Ltd from Duke Royalty Ltd has been confirmed by the UK Registrar of Companies, and will take effect for shares trading on AIM from Thursday. On Tuesday, the name change was passed by shareholders at an extraordinary general meeting.

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20 Feb 2024 13:18

IN BRIEF: Duke Royalty confirms name change to Duke Capital

Duke Royalty Ltd - Guernsey-based provider of royalty finance to companies in UK and Europe - Confirms that name change to Duke Capital Ltd was passed by shareholders at extraoridnary general meeting, held Tuesday.

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13 Feb 2024 14:34

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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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29 Dec 2023 11:39

IN BRIEF: Duke Royalty expects higher quarterly recurring cash revenue

Duke Royalty Ltd - Guernsey-based provider of royalty finance to companies in UK and Europe - Expects recurring cash revenue of GBP6.3 million in its third quarter for the year ending March 31, which would be a 12% increase from GBP5.6 million a year before. It would also be a notch up from GBP6.2 million in its second quarter. "We are pleased to report that despite the ongoing macroeconomic uncertainties, we continue to deliver revenue growth, with [the third quarter of financial 2024] on course to maintain this upward trend, underpinning our stable dividend which at the current share price, represents an approximate 9% yield," says Chief Executive Officer Neil Johnson.

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