Duke Royalty Limited (DUKE)

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Financials

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45.40p
   
  • Change Today:
    -0.20p
  • 52 Week High: 48.10
  • 52 Week Low: 40.00
  • Currency: UK Pounds
  • Shares Issued: 199.87m
  • Volume: 110,465
  • Market Cap: £90.74m
  • Beta: 0.01

Duke Royalty upbeat ahead of annual adjustments

By Josh White

Date: Tuesday 08 May 2018

LONDON (ShareCast) - (Sharecast News) - Alternative capital provider Duke Royalty updated the market on the financial results shown by its initial two royalty partners on Tuesday, ahead of upcoming adjustments for two of its royalty distributions, to be determined for the upcoming year within the next two months.
The AIM-traded firm said Temarca was anticipating an 8% increase in annual revenue in the 2017 financial year,, subject to completion of its audit.

Its annual adjustment date would be 1 July, based on audited numbers from the 2017 financial year over 2016.

Temarca's three river cruise vessels had fully sold their capacity for the 2018 sailing season, Duke reported.

At Lynx Equity, the company delivered a 7% year-over-year revenue growth for the eight-month year-to-date period.

Its annual adjustment date would be 1 August, based on full-year numbers to 31 July over the same period last year.

Duke's royalty payments are derived from Lynx UK's three separate operating businesses in the UK and Denmark, each with a "long history" of profitable operations, the Duke board explained.

The board said the adjustment dates triggered an annual reset of the payment amount due to Duke, subject to a collar.

The reset would be calculated based on the revenue growth or decline of its royalty partners over the preceding 12 months.

Duke said the adjustments were calculated once per year, each year for the life of the royalty agreement.

"We are encouraged to see our initial royalty partners are performing in line with our expectations of solid revenue growth, which would have the benefit of higher annual royalty distributions to Duke at the adjustment date," said Duke CEO Neil Johnson.

"Given the significant operational leverage at Duke, both higher royalty payments and increased capital deployments are intended to produce a higher dividend pay-out to Duke's shareholders."

Johnson said that in 2019, Duke would see initial adjustments from both Trimite Global Coatings and Brownhills Glass, both having an annual adjustment date of 1 April.

"Duke is confident in the outlook of the companies' short-term performance and looks forward to updating the market later in the year."

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DUKE Market Data

Currency UK Pounds
Share Price 45.40p
Change Today -0.20p
% Change -0.44 %
52 Week High 48.10
52 Week Low 40.00
Volume 110,465
Shares Issued 199.87m
Market Cap £90.74m
Beta 0.01

DUKE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
53.72% below the market average53.72% below the market average53.72% below the market average53.72% below the market average53.72% below the market average
14.48% below the sector average14.48% below the sector average14.48% below the sector average14.48% below the sector average14.48% below the sector average
Price Trend
39.98% below the market average39.98% below the market average39.98% below the market average39.98% below the market average39.98% below the market average
61.54% above the sector average61.54% above the sector average61.54% above the sector average61.54% above the sector average61.54% above the sector average
Income
Market averageMarket averageMarket averageMarket averageMarket average
23.81% above the sector average23.81% above the sector average23.81% above the sector average23.81% above the sector average23.81% above the sector average
Growth Not Available

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

DUKE Dividends

  Latest Previous
  Q1 Q4
Ex-Div 04-Apr-19 27-Dec-18
Paid 17-Apr-19 12-Jan-19
Amount 0.70p 0.70p

Trades for 24-May-2019

Time Volume / Share Price
16:09 2,764 @ 45.20p
16:09 2,764 @ 45.20p
15:49 32,748 @ 45.80p
15:30 1,417 @ 45.26p
15:29 4,000 @ 45.80p

DUKE Key Personnel

CEO Neil A Johnson

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