Business
Financial Year 2024 Interim Results
Financial Year 2024 Interim Results.
About this update from Duke Capital Limited
[{"type":"text","content":"\n\n22 November 2023\nDuke Royalty Limited\n \n(\"Duke Royalty\", \"Duke\" or the \"Company\")\n \nInterim Results for the six months ended 30 September 2023\n \nDuke Royalty Limited (AIM: DUKE), a provider of alternative capital solutions to a diversified range of profitable and long-established businesses in Europe and abroad, is pleased to announce its interim results for the six-months ended 30 September 2023 (\"Interim 2024\").\n \nFinancial Highlights\n \n· Total cash revenue up 35% from the prior period to £14.1 million (Interim 2023: £10.4 million)\n· Recurring cash revenue* totalled £12.2 million, up 17% from Interim 2023 (£10.4 million)\n· Free cash flow** up 23% to £7.9 million (Interim 2023: £6.5 million)\n· Adjusted earnings up 23% to 1.95 pence per share (Interim 2023: 1.58 pence per share)\n· Cash dividends of 1.40 pence per share paid to shareholders (Interim 2023: 1.40 pence per share)\n \nOperational Highlights\n \n· Deployed over £18 million of capital into new and existing Royalty Partners\n· One new royalty partner added to the portfolio, taking total to 15\n· One investment buyback with Instor delivering a triple digit IRR\n· Over £40 million of available liquidity for future deployments\n \n* Recurring cash revenue excludes buyback premiums, cash gains from the sale of equity investments and one-off fee income\n** Free cashflow is defined as operating cashflow, plus cash gains from the sale of equity investments, less investment costs less interest payable of Duke's debt facility\n \nNigel Birrell, Chairman of Duke Royalty, said:\n \n\"During the interim period Duke was able to post its twelfth consecutive quarter of increasing recurring cash revenue which was a fantastic achievement for the Company. In line with this strong fi...