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Pin to quick picksDuke Capital Share News (DUKE)

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EARNINGS AND TRADING: Victorian Plumbing profit up; Duke revenue dips

Wed, 22nd Nov 2023 14:15

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:


Tremor International Ltd - Israel-headquartered company offering an end-to-end technology advertising platform - Says revenue in the third quarter of the year grew 13% to USD80.1 million from USD70.9 million the year prior. Nevertheless, swings to pretax loss to USD4.04 million from a USD3.50 million profit the year before. Operating costs increase 33% to USD69.8 million from USD52.7 million. Looking ahead, it says ongoing uncertainty will limit customer spending through to the rest of 2023. Expects approximately between USD80 million and USD85 million in adjusted earnings before interest, tax, depreciation and amortisation for the full year.


Rockwood Strategic PLC - London-based investor in smaller UK public companies, formerly known as Rockwood Realisation PLC - Says net asset value per share at September 30 was 1,851.62 pence, down from 1,959.56p at March 31. NAV total return in six months to September 30 was negative 5.5%, compared to a decline in the FTSE AIM All Share Index of negative 10.3%. Chair Noel Lamb says: "The first half of our financial year has been a challenging one for UK small company stock market investors, with sustained outflows from the asset class amidst negative sentiment as interest rates continued to rise against a subdued economic backdrop. For those with sensible time horizons, these are typically the conditions for positive future medium-term returns, not least due to the heavily depressed valuations of small company shares relative to history. Private equity and trade buyers are clearly recognising the opportunities created by this environment, with the drumbeat of takeovers within Rockwood's portfolio continuing throughout 2023. We are delighted that during the period, the long-standing share price discount to Net Asset Value was closed, and we were able to grow our shareholder base."


Victorian Plumbing Group PLC - Lancashire, England-based bathroom retailer - Says pretax profit in the year ended September 30 grows 32% GBP15.6 million from GBP11.8 million a year prior as revenue rises 5.8% to GBP285.1 million from GBP269.4 million the year before. Proposes a final dividend of 0.95 pence per share, bringing the total dividend to 1.40p per share, up 73% from 1.10p the year before. Looking ahead, it says it is "confident" in future growth prospects. Chief Executive Officer Mark Radcliffe says: "As a highly cash generative business with a strong balance sheet, we continue to invest in the business - across people, technology and infrastructure. Our new purpose-built 544,000 square feet distribution centre, once operational, will enable further growth in the core bathroom category, as well as unlocking further strategic category expansion. We are confident that Victorian Plumbing's profitable growth strategy will continue to deliver long-term value to all stakeholders."


Duke Royalty Ltd - Guernsey-based provider of royalty finance to companies in UK and Europe - Says total revenue for the half year ended September 30 falls 66% to GBP10.4 million from GBP31.0 million the year before. Recurring cash revenue totalled GBP12.2 million, up 17% from GBP10.4 million in the first half of financial 2023. Pretax profit stoops by 81% to GBP3.8 million from GBP20.4 million a year prior. Maintains its quarterly dividend of 0.70 pence per share. Looking ahead, says it is "well-positioned" for growth. Chair Nigel Birrell comments: "During the interim period, Duke was able to post its twelfth consecutive quarter of increasing recurring cash revenue, which was a fantastic achievement for the company. In line with this strong financial performance, the company also maintained its quarterly dividend of 0.70p per share. Investors can be reassured that the dividend payout remains well covered by operating cashflow, with the attractive yield representing a pillar of Duke's ongoing business model and its overall financial discipline."


Atlantic Lithium Ltd - Sydney-based lithium exploration and development company, with assets in Ghana and Ivory Coast - Says beginning of construction of Ewoyaa lithium project in Ghana will begin in late 2024, with initial production expected in early 2025. CEO Keith Muller says: "Being now within only two years from initial production, the company continues to actively recruit experienced individuals to bolster the expertise of the leadership team ahead of mine build and operation, while also ensuring a successful transition to becoming a lithium producer. We are delighted to welcome three general managers to the team, each bringing significant expertise from across the mining sector. We expect to continue to grow our teams, both in Ghana and in Australia, as we near construction."


OptiBiotix Health PLC - York, England-based life sciences company - Wins grant from the University of Reading for research of its prebiotic and mineral complex, WellBiome. Says the study will assess Well Biome's impact on the gut microbiome. CEO Stephen O'Hara says: "The award of this grant to investigate WellBiome's impact on the gut microbiome throughout its length is another step in OptiBiotix's strategy of developing science based functional ingredients which modify the human microbiome to improve health. Consumer understanding and interest in the microbiome and the role of gut health in general health and wellbeing is growing rapidly, particularly in the US, and this is creating a market opportunity that is large and expanding."


By Sabrina Penty, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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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

UK shareholder meetings calendar - next 7 days

Wednesday 14 February 
GCP Infrastructure Investments LtdAGM
Gfinity PLCGM re annual report
Tertiary Minerals PLCAGM
Tritax EuroBox PLCAGM
Thursday 15 February 
JPMorgan Asia Growth & Income PLCAGM
Synergia Energy LtdGM re share placing
VVV Resources LtdAGM
Friday 16 February 
Irish Residential Properties REIT PLCEGM re removal of 5 of 9 directors
Location Sciences Group PLCGM concerning reverse takeover agreement
Red Rock Resources PLCAGM
UK Oil & Gas PLCGM re proposed capital reorganisation
Monday 19 February 
Cloudbreak Discovery PLCGM
East Imperial PLCGM re capital reorganisation
Oxford Cannabinoid Technologies Holdings PLCGM re convertible loan note agreement with Cantheon
Residential Secure Income PLCAGM
Tuesday 20 February 
abrdn Equity Income Trust PLCAGM
Carr's Group PLCAGM
Dewhurst Group PLCAGM
Duke Royalty LtdEGM re changing name to Duke Capital
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 12:45

London close: Stocks mixed after short New Year session

(Sharecast News) - London markets had a mixed performance in a shortened pre-holiday trading session on Friday.

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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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29 Dec 2023 10:03

Duke Royalty posts strong quarter, makes follow-on investment

(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.

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29 Dec 2023 07:59

London open: Gains modest but stocks rise to seven-month high

(Sharecast News) - UK stocks edged higher to a seven-month high on Friday morning, though gains were likely to be limited in a shortened trading session ahead of the New Year's break.

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29 Dec 2023 07:47

LONDON BRIEFING: FTSE 100 to edge higher, rounding off lacklustre year

(Alliance News) - Stocks in London are expected to edge higher on Friday, as investors reflect on an eventful year and look ahead to what's in store for 2024.

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29 Dec 2023 07:35

London pre-open: Small gains expected in shortened trading session

(Sharecast News) - London stocks were expected to rise slightly on Friday morning, though movements continue to be limited as volumes remain low in festive trading.

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23 Nov 2023 08:48

CORRECT: Duke Royalty half-year total income falls 34%; payout steady

(Correcting total income figures.)

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13 Sep 2023 14:39

IN BRIEF: Duke Royalty recurring cash revenue up 17% in first quarter

Duke Royalty Ltd - Guernsey-based provider of royalty finance to companies in UK and Europe - Recurring cash revenue is GBP6.0 million in the three months to June 30, Duke's financial first quarter, up 17% from GBP5.1 million a year before. Expects recurring cash revenue in the second quarter of financial 2024 of GBP6.2 million. Looking ahead, Duke says it remains confident that the consistent quarterly growth in recurring revenue will continue.

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13 Sep 2023 13:31

Duke Royalty reports strong start to new financial year

(Sharecast News) - Alternative capital specialist Duke Royalty reported a new record of £6m in recurring cash revenue for the first quarter on Wednesday, making for an increase of 17% over the first three months of the prior year, and a £0.3m increase on the previous quarter.

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31 Jul 2023 17:31

TRADING UPDATES: MGC Pharmaceuticals granted psilocybin import permit

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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20 Jul 2023 20:06

TRADING UPDATES: Chapel Down sales pop; Serabi output rises

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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