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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:

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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.

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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."

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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."

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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."

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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."

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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."

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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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IN BRIEF: Duke Royalty shares up as quarterly cash revenue rises

Duke Royalty Ltd - Europe and North America-focused alternative capital solutions provider - Says recurring cash revenue for the fourth quarter of financial 2023 amounts to GBP5.7 million, up from GBP4.7 million the year before. Total cash revenue is GBP5.8 million, up from GBP5.6 million in the previous quarter. Says in the quarter, Duke Royalty completes a new USD8.8 million royalty investment into Instor Solutions Inc, a California-based product reseller and service provider for work related to the build-out and migration of data centres.

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DIRECTOR DEALINGS: Unilever South Asia president sells more shares

(Alliance News) - The following is a round-up of share dealings by London-listed company directors and managers announced on Wednesday and Thursday and not separately reported by Alliance News:

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24 May 2023 19:15

IN BRIEF: Duke Royalty nets profit after successful investment exit

Duke Royalty Ltd - Europe and North America-focused alternative capital solutions provider - Announces the successful exit of its investment in royalty partner Instor Solutions Inc, a California-based product reseller and service provider for work related to the build-out and migration of data centres. Receives net cash of USD11.2 million at closing, delivering a total gain of USD2.4 million over Duke's initial investment amount, provided to Instor in March 2023. Notes this represents the sixth and most profitable exit for Duke to date. Proceeds from the exit further strengthens Duke's balance sheet, enabling deployment into its pipeline of new investment opportunities, company says.

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7 Mar 2023 17:11

TRADING UPDATES: Caspian Sunrise signs charter contract, eyes further

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

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7 Mar 2023 16:37

Duke Royalty inks financing deal with its 20th partner

(Sharecast News) - Duke Royalty announced an $8.75m royalty financing agreement with Instor Solutions on Tuesday, to support a shareholder buyout intended to transition equity control to the current executive management team, led by the CEO.

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3 Mar 2023 11:54

IN BRIEF: Duke Royalty expects quarterly cash revenue to rise

Duke Royalty Ltd - Europe and North America-focused alternative capital solutions provider - Expects to achieve recurring cash revenue of GBP5.7 million for the fourth quarter ending on March 31, up 21% from GBP4.7 million a year before. In the third quarter ended December 31, recurring cash revenue amounts to GBP5.6 million, up from GBP3.9 million a year before.

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21 Feb 2023 16:31

Duke Royalty invests further GBP1.8 million into royalty partner InTec

(Alliance News) - Duke Royalty Ltd on Tuesday announced a follow-on investment of GBP1.8 million into its existing royalty partner InTec Business Solutions Ltd to fund its latest acquisition.

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21 Feb 2023 11:56

Duke Royalty puts another £1.75m into InTec

(Sharecast News) - Alternative capital provider Duke Royalty announced a follow-on investment of £1.75m into existing royalty partner InTec Business Solutions on Tuesday, to fund its latest acquisition.

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TRADING UPDATES: t42 IoT Tracking Solutions and Zenova win contracts

(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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13 Dec 2022 13:41

Duke Royalty makes £3.2m follow-on investment in Tristone

(Sharecast News) - Alternative capital provider Duke Royalty announced a follow-on investment of £3.2m into its existing royalty partner Tristone Healthcare on Tuesday, to fund its latest acquisition.

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13 Dec 2022 13:00

IN BRIEF: Duke Royalty invests additional GBP3.2 million into Tristone

Duke Royalty Ltd - Europe and North America-focused alternative capital solutions provider - Notes follow-on investment of GBP3.2 million into existing royalty partner Tristone Healthcare Ltd to fund its acquisition of residential and nursing care provider K Bond Healthcare Ltd, which trades as Next Steps. Tristone provides specialist residential and domiciliary care in two end-markets: high acuity adults with severe mental, physical or learning disabilities, and care leavers, aged between 16 and 19, who are transitioning out of social care and into independent living.

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Duke Royalty upgrades credit facility to GBP100 million until 2028

(Alliance News) - Duke Royalty Ltd on Monday said it entered into a new GBP100 million credit facility agreement with Fairfax Financial Holdings Ltd for a five-year term.

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1 Dec 2022 12:49

Duke Royalty says well-positioned after interim profit rise

(Alliance News) - Duke Royalty Ltd on Thursday said that it expects higher third quarter revenue than last year, after continuing to deliver growth following on from a successful first half.

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Duke Royalty growth continues in third quarter

(Sharecast News) - Alternative capital provider Duke Royalty updated the market on its trading in the third quarter on Thursday, saying it expected to achieve recurring cash revenue of £5.5m for the period.

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