Duke Royalty Limited Trading Update (1649I)
01 Dezember 2022 - 8:01AM
UK Regulatory
TIDMDUKE
RNS Number : 1649I
Duke Royalty Limited
01 December 2022
1 December 2022
Duke Royalty Limited
("Duke Royalty", "Duke" or the "Company")
Trading Update
Duke Royalty, a provider of alternative capital solutions to a
diversified range of profitable and long-established businesses in
Europe and North America, is pleased to provide guidance on its
trading for its third financial quarter ending 31 December 2022
("Q3 FY23").
Based on current trading, Duke expects to achieve recurring cash
revenue* of GBP5.5 million in Q3 FY23. This represents a 41%
increase on Q3 FY22 (GBP3.9 million) and an increase on the prior
quarter, Q2 FY23, which saw the Company deliver record recurring
cash revenue of GBP5.3 million.
Overview of quarterly revenue growth:
Recurring Cash Revenue Total Cash Revenue**
Q2 FY22 GBP3.3 million GBP4.9 million
----------------------- ---------------------
Q3 FY22 GBP3.9 million GBP3.9 million
----------------------- ---------------------
Q4 FY22 GBP4.7 million GBP6.7 million
----------------------- ---------------------
Q1 FY23 GBP5.1 million GBP5.1 million
----------------------- ---------------------
Q2 FY23 GBP5.3 million GBP5.3 million
----------------------- ---------------------
* Recurring cash revenue excludes buyback premium receipts and
cash gains from equity sales
** Total cash revenue is monthly cash distributions from Duke's
royalty partners plus cash gains received from the sales of equity
assets and buyback premiums
Neil Johnson, CEO of Duke Royalty, said:
"We are pleased to report that despite the macroeconomic
backdrop, we continue to deliver revenue growth, with Q3 FY23 on
course to maintain this upward trend. This is supporting the
delivery of our quarterly dividend, which represents an annualised
yield of over 8% at the current share price.
"In Q4 FY23, we expect to see continued new deployments, as
shown by Duke's recent investment into New Path Fire &
Security. Duke will be opportunistic in taking advantage of the
current market where we are seeing other lenders pulling back from
making new investments. Duke's access to capital and long term,
aligned investment horizon is perfectly positioned for the current
challenging macro environment."
***ENDS***
For further information, please visit www.dukeroyalty.com or
contact:
Neil Johnson / Charles
Cannon Brookes / Hugo
Duke Royalty Limited Evans +44 (0) 1481 730 613
Cenkos Securities
plc
(Nominated Adviser Stephen Keys / Callum
and Joint Broker) Davidson / Michael Johnson +44 (0) 207 397 8900
Canaccord Genuity
(Joint Broker) Adam James / Harry Rees +44 (0) 207 523 8000
SEC Newgate (PR) Elisabeth Cowell / Axaule +44 (0) 20 3757 6882
Shukanayeva dukeroyalty@secnewgate.co.uk
About Duke Royalty
Duke Royalty Limited provides alternative capital solutions to a
diversified range of profitable and long-established businesses in
Europe and abroad. Duke Royalty's experienced team provide
financing solutions to private companies that are in need of
capital but whose owners wish to maintain equity control of their
business. Duke Royalty's royalty investments are intended to
provide robust, stable, long term returns to its shareholders. Duke
Royalty is listed on the AIM market under the ticker DUKE and is
headquartered in Guernsey.
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END
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