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Duke Royalty raised its outlook on full-year performance after reporting a rise in first-half profit as income jumped.
For the six-month ended 30 September 2021, pre-tax profit rose £6.7 million from £4.9 million year-on-year as income rose to £9.8 million from £7.1 million.
Cash distributions from royalty partners and cash gains from the sale of equity investments, grew to £7.8 million during the period under review, a 78% increase over the £4.4 million generated in interim 2021.
'This strong trading performance makes me confident that Duke will exceed the market's expectations for the 12 months ended 31 March 2022,' the company said.