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| Date | 23 Dec 2021 |
| Time | 07:01:05 |
| Category | Trading updates |
| ID | 5572W |
23 December 2021
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 the following trading update for its third financial quarter ending 31 December 2021 ("Q3 FY22").
Having added three new Royalty Partners in Q2 FY22, Duke has continued to convert its robust pipeline in Q3 FY22, securing two additional Royalty Partners and completing three follow-on investments into existing Royalty Partners.
Therefore, the Company expects that cash revenue for the quarter, being cash distributions from its Royalty Partners and cash gains from sales of equity assets, will total £3.9 million. Duke is cautiously optimistic that it will be able to announce a further increase in quarterly cash revenue for the period Q4 FY22.
Neil Johnson, CEO of Duke Royalty, said:
"This quarter's performance demonstrates how new deals can translate into cash revenue and having secured two new Royalty Partners in the past four weeks, we are optimistic that we can continue this upward trend into Q4 FY22 as the distributions from these agreements start to flow through. As Duke continues to show the benefits of royalty financing to both business owners and investors, we look forward to updating the market in due course with further deployments and quarterly trading updates."
***ENDS***
For further information, please contact www.dukeroyalty.com, or contact:
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Duke Royalty Limited |
Neil Johnson / Charlie Cannon Brookes / Hugo Evans
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+44 (0) 1481 730 613 |
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Cenkos Securities plc (Nominated Adviser and Joint Broker) |
Stephen Keys / Callum Davidson / Julian Morse / Michael Johnson |
+44 (0) 207 397 8900 |
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Canaccord Genuity (Joint Broker)
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Adam James / Georgina McCooke |
+44 (0) 207 523 8000 |
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SEC Newgate (PR) |
Elisabeth Cowell / Richard Bicknell / Megan Kovach |
+ +44 (0) 20 3757 6880 [email protected] |
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.