Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksDuke Capital Share News (DUKE)

Share Price Information for Duke Capital (DUKE)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 30.75
Bid: 30.50
Ask: 31.00
Change: 0.00 (0.00%)
Spread: 0.50 (1.639%)
Open: 31.00
High: 31.25
Low: 30.75
Prev. Close: 30.75
DUKE Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Duke Royalty Swings To Maiden Yearly Profit As Income Jumps

Mon, 09th Sep 2019 11:36

(Alliance News) - Duke Royalty Ltd on Monday said it hiked its dividend and swung to annual profit for the first time following a sharp increase in total income.

In the year ended March 31, the royalty financing firm achieved a maiden pretax profit of GBP1.9 million, improved from an GBP858,202 loss in financial 2018.

Total income rose sharply year-on-year to GBP6.1 million from GBP1.8 million, helped by strong total net gains in the value of its financial assets. During the recently ended financial year, Duke's assets achieved total net gains of GBP5.9 million, compared with GBP1.6 million the year before.

Duke increased its dividend by 33% to 2.8 pence per share from 2.1p and said "a stable and increasing dividend yield is a fundamental principle that the company will continue to focus on in future years".

Total operating expenses rose by 44% to GBP3.8 million from GBP2.7 million, largely driven by a rise in transaction costs.

In August 2018, Duke raised GBP44.0 million through an oversubscribed placing and subscription, its largest equity raise to date.

In February 2019, Duke acquired Capital Step Holdings Ltd and Capital Step Investments Ltd, at the time the company's "only known UK royalty competitors" for an enterprise value of GBP21.7 million. It was Duke's largest transaction to date and boosted its royalty partners from five to 11.

Later that month, Duke Royalty concluded its 12th royalty financing with a GBP10.0 million investment into vehicle parts wholesalers MRDB Holdings Ltd Group.

Looking ahead, the company said it has a "strong pipeline of new opportunities and follow-on investments" though it did say that UK political uncertainty could create headwinds.

Chief Executive Neil Johnson said: "The operating cash flow, which is a key metric for our business, has grown substantially together with revenue. As a result of Duke's high operating leverage, combined with the fact that we have quadrupled our royalty portfolio in the past year, we are pleased to see the financial benefits that have been generated, particularly in relation to our increased dividend.

"The political headwinds being felt in the UK mean uncertain times, however near-term uncertainty makes the long-term nature of our capital more attractive to business owners who require capital. Also, the predictability of our cash flow increases the confidence for shareholders in times of volatility. We are confident that the year ahead will be characterised by continued growth."

Shares in Duke Royalty were flat at 47.60p each in London on Monday morning.

More News
2 Dec 2021 15:44

Duke Royalty completes £4.2m follow-on investment in BIL

(Sharecast News) - Royalty capital provider Duke Royalty announced on Thursday that it has completed the follow-on investment of £4.2m into its existing royalty partner Bakhchysarai Ireland (BIL).

Read more
26 Nov 2021 16:02

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

Read more
27 Oct 2021 17:58

TRADING UPDATES: NewRiver watchdog blow; Vianet eyes resuming payouts

TRADING UPDATES: NewRiver watchdog blow; Vianet eyes resuming payouts

Read more
15 Oct 2021 15:59

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

Read more
16 Sep 2021 14:36

CORRECT: Kier swings to profit, Sound Energy loss widens

CORRECT: Kier swings to profit, Sound Energy loss widens

Read more
16 Sep 2021 14:34

TRADING UPDATES: Kier swings to profit, Sound Energy loss widens

TRADING UPDATES: Kier swings to profit, Sound Energy loss widens

Read more
16 Sep 2021 12:17

Canaccord Genuity raises target price on Duke Royalty

(Sharecast News) - Analysts at Canaccord Genuity raised their target price on finance company Duke Royalty from 45.0p to 52.0p on Thursday following the firm's "resilient" full-year trading performance.

Read more
9 Sep 2021 16:01

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

Read more
7 Sep 2021 14:59

TRADING UPDATES: Marlowe buys Santia; Gaming Realms notes new launch

TRADING UPDATES: Marlowe buys Santia; Gaming Realms notes new launch

Read more
11 Aug 2021 19:54

TRADING UPDATES: Ince launches solution; PureTech gets USD6.5 million

TRADING UPDATES: Ince launches solution; PureTech gets USD6.5 million

Read more
2 Aug 2021 17:54

IN BRIEF: Duke Royalty signs CAD8 million royalty deal with Creo-Tech

IN BRIEF: Duke Royalty signs CAD8 million royalty deal with Creo-Tech

Read more
2 Aug 2021 14:51

Duke Royalty enters financing agreement with Creo-Tech

(Sharecast News) - Alternative capital provider Duke Royalty has entered into an CAD 8.3m (£4.8m) royalty financing agreement with Creō-Tech Industrial Group, it announced on Monday.

Read more
26 Jul 2021 19:23

TRADING UPDATES: Esken gives up Teeside deal; Kanabo buys in Europe

TRADING UPDATES: Esken gives up Teeside deal; Kanabo buys in Europe

Read more
26 Jul 2021 09:43

Duke Royalty Q1 cash revenues 'marginally' above management expectations

(Sharecast News) - Alternative capital provider Duke Royalty said on Monday that its first-quarter cash revenue performance had slightly bested internal forecasts.

Read more
22 Jul 2021 20:57

TRADING UPDATES: Hotel Chocolat fundraises; Argo's Texas crypto asset

TRADING UPDATES: Hotel Chocolat fundraises; Argo's Texas crypto asset

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.