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.
Looking ahead, Duke expects to achieve recurring cash revenue of GBP6.0 million for the first quarter of financial 2024, delivering an average monthly revenue of GBP2.0 million.
Chief Executive Officer Neil Johnson says: "We are pleased to announce yet another quarter of strong financial performance and another interim dividend for our shareholders, despite the macroeconomic uncertainties. We continue to maintain a close relationship with our portfolio companies and are reassured of their resilience to trading in challenging market conditions."
Current stock price: 32.20 pence each, up 6.5% on Thursday morning in London
12-month change: down 12%
By Xindi Wei, Alliance News reporter
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Duke Capital (DUKE)