REG - Duke Royalty Limited - Trading Update

Duke CapitalAnnouncement

01/12/2022 07:15

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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
£5.5 million in Q3 FY23. This represents a 41% increase on Q3 FY22 (£3.9
million) and an increase on the prior quarter, Q2 FY23, which saw the Company
deliver record recurring cash revenue of £5.3 million.

Overview of quarterly revenue growth:

          Recurring Cash Revenue  Total Cash Revenue**
 Q2 FY22  £3.3 million            £4.9 million
 Q3 FY22  £3.9 million            £3.9 million
 Q4 FY22  £4.7 million            £6.7 million
 Q1 FY23  £5.1 million            £5.1 million
 Q2 FY23  £5.3 million            £5.3 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
(http://www.dukeroyalty.com) or contact:

 

 

 Duke Royalty Limited     Neil Johnson / Charles Cannon Brookes / Hugo Evans  +44 (0) 1481 730 613

 Cenkos Securities plc    Stephen Keys / Callum Davidson / Michael Johnson    +44 (0) 207 397 8900

 (Nominated Adviser

 and Joint Broker)

 Canaccord Genuity        Adam James / Harry Rees                             +44 (0) 207 523 8000

 (Joint Broker)

 SEC Newgate (PR)         Elisabeth Cowell / Axaule Shukanayeva               +44 (0) 20 3757 6882 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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