Business
Update and Notice of Results
Update and Notice of Results.
About this update from Duke Capital Limited
[{"type":"text","content":"\n \nRNS Number : 9455I Duke Royalty Limited 14 August 2019 \n\n14 August 2019 \nDuke Royalty Limited \n(\"Duke Royalty\", \"Duke\" or the \"Company\") \n \nOperational Update and Notice of Results \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 the following operational update and notice of results. \n \nFull-year results for the financial year ended 31 March 2019 (FY 2019) are expected to be published on 9 September 2019. \n \nHighlights \n \n· Results will show a significant uplift in the financial results over the prior year, with revenue and cashflow from operations in line with market expectations\n· Momentum has continued into Q1 FY 2020, with record quarterly cash revenue achieved and June 2019 representing the single highest month of cash revenues to date\n· All annual adjustment factors for Royalty Partners were revised upwards during FY 2019 and Q1 FY 2020, increasing revenue to Duke and testament to the strong portfolio performance\n· The improved terms of the debt refinancing to increase both its size and to reduce the cost have now been formally agreed with Duke's existing debt provider, with completion of the refinancing expected by the end of August\n· The Company's near-term pipeline of both follow-on and new investment opportunities remains strong\n \nNeil Johnson, CEO of Duke Royalty, commented: \n \n\"Fiscal 2019 was a busy year for the Company, with the raising of £44 million new equity capital and the tripling of the number of Royalty Partners from four to 12. This was in part through the acquisition of Capital Step and the completion of several follow-on transactions into existing Royalty Partners.\n \n\"We have made meaningful deployments of our capital during FY 2019 and are pleased to see solid revenue growth from our Royalty Partners. This delivered revenue and operating cashflow is in line with expectations, with cashflow remaining a key performance metric of the Company. Additionally, the positive annual adjustments of Duke's royalty distributions have resulted in increased ...