Duke Royalty Ltd - Europe and North America-focused alternative capital solutions provider - Posts total income of GBP31.0 million for year ended on March 31, up from GBP28.8 million the year before. Pretax profit is down to GBP19.6 million from GBP20.4 million, as total operating costs rise to GBP4.3 million from GBP3.6 million the year before. Finance costs balloon to GBP5.6 million from GBP2.0 million. Recurring cash revenue increases by 46% to GBP21.9 million from GBP14.9 million. Looking ahead, expects to see higher deployment rate in financial 2024 than in financial 2023. Adds that it remains cautiously optimistic about the future.
Chief Executive Officer Neil Johnson says: "We are delighted to announce that we have achieved a strong set of financial results across all our important financial metrics for the 12 months to March 31 2023. Despite the prevailing macro uncertainties, it also brings forth opportunities. We understand that during times of short-term uncertainty, business owners seek long-term capital solutions, which further reinforces the attractiveness of our proposition to them, as our solution offers both investors and shareholders what they desire - a long-term, predictable revenue stream with a focus on dividends."
Current stock price: 33.65 pence each, up 3.5% on Tuesday afternoon in London
12-month change: down 1.8%
By Xindi Wei, Alliance News reporter
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