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

Thu, 23rd Nov 2023 08:48

(Correcting total income figures.)

Duke Royalty Ltd - Guernsey-based provider of royalty finance to companies in UK and Europe - Says total income for the half year that ended September 30 falls 34% to GBP10.4 million from GBP15.8 million a year before. Recurring cash revenue totals GBP12.2 million, up 17% from GBP10.4 million in the first half of financial 2023, while total cash revenue rises 35% to GBP14.1 million from GBP10.4 million the year before. Pretax profit falls 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."

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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