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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 £5.7 million, up from £4.7 million the year before. Total cash revenue is £5.8 million, up from £5.6 million in the previous quarter. Says in the quarter, Duke Royalty completes a new $8.8 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 £6.0 million for the first quarter of financial 2024, delivering an average monthly revenue of £2.0 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%
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