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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.
Chief Executive Officer Neil Johnson says: "These strong results follow the addition of another royalty partner in New Path Fire & Security to our portfolio, as well a follow-on investment into social care platform Tristone Healthcare during the period. Our increasing recurring cash revenues also reflect the good performance of our partners despite the headlines of economic headwinds and inflation worries."
In December, Duke Royalty reported pretax profit of GBP10.9 million for the six months that ended September 31, up from GBP6.7 million a year prior. Total cash revenue increased by 34% to GBP10.4 million from GBP7.8 million.
Current stock price: 33.00 pence
12-month change: down 13%
By Xindi Wei, Alliance News reporter
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