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
4 Feb 2021 14:27

Duke Royalty reports record quarter of cash revenue generation

(Sharecast News) - Alternative capital provider Duke Royalty updated the market on its trading and operations on Thursday, reporting cash revenue for the third quarter of £4.2m, representing a record quarter of cash revenue generation for Duke.

Read more
4 Feb 2021 14:27

Duke Royalty reports record quarter of cash revenue generation

(Sharecast News) - Alternative capital provider Duke Royalty updated the market on its trading and operations on Thursday, reporting cash revenue for the third quarter of £4.2m, representing a record quarter of cash revenue generation for Duke.

Read more
4 Feb 2021 11:38

TRADING UPDATES: Vertu Profit To Beat Forecasts; eEnergy Revenue Jumps

TRADING UPDATES: Vertu Profit To Beat Forecasts; eEnergy Revenue Jumps

Read more
14 Jan 2021 19:15

UK TRADING UPDATE SUMMARY: DWF Sets Up New Global Operating Structure

UK TRADING UPDATE SUMMARY: DWF Sets Up New Global Operating Structure

Read more
11 Jan 2021 14:58

UK EXECUTIVE CHANGE SUMMARY: M&G Chair Evans Takes Temporary Break

UK EXECUTIVE CHANGE SUMMARY: M&G Chair Evans Takes Temporary Break

Read more
24 Dec 2020 11:49

Duke Royalty invests another EUR 1.1m in Irish broker BHPC

(Sharecast News) - Alternative capital provider Duke Royalty announced a follow-on investment of €1.1m (£1m) into its existing royalty partner, BHPC Limited, doing business as BHP.

Read more
24 Dec 2020 08:40

Duke Royalty Invests Further EUR1 Million In Irish Broker BHPC

Duke Royalty Invests Further EUR1 Million In Irish Broker BHPC

Read more
22 Dec 2020 18:06

UK TRADING UPDATE SUMMARY: Lekoil Fires Back At Shareholder Metallon

UK TRADING UPDATE SUMMARY: Lekoil Fires Back At Shareholder Metallon

Read more
22 Dec 2020 10:13

Duke Royalty invests another ?3.1m in Miriad Products

(Sharecast News) - Alternative capital provider Duke Royalty announced a follow-on investment of £3.1m into its existing royalty partner MRDB Holdings, trading as Miriad Products, on Tuesday.

Read more
9 Dec 2020 16:10

UK EARNINGS SUMMARY: Dewhurst Annual Profit Up Despite Revenue Decline

UK EARNINGS SUMMARY: Dewhurst Annual Profit Up Despite Revenue Decline

Read more
2 Dec 2020 16:04

UK Earnings, Trading Statements Calendar - Next 7 Days

UK Earnings, Trading Statements Calendar - Next 7 Days

Read more
12 Nov 2020 19:17

UK TRADING UPDATE SUMMARY: Clipper Expects 20% Interim Revenue Climb

UK TRADING UPDATE SUMMARY: Clipper Expects 20% Interim Revenue Climb

Read more
14 Oct 2020 16:05

UK Shareholder Meetings Calendar - Next 7 Days

UK Shareholder Meetings Calendar - Next 7 Days

Read more
17 Sep 2020 15:17

IN BRIEF: Duke Royalty Swings To Annual Loss But Raises Payout

IN BRIEF: Duke Royalty Swings To Annual Loss But Raises Payout

Read more
16 Sep 2020 15:50

IN BRIEF: Duke Royalty Upturn In Trading Continues Into Second Quarter

IN BRIEF: Duke Royalty Upturn In Trading Continues Into Second Quarter

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.