Duke Royalty Limited - Trading Update
The Company confirms that the general upturn experienced in the underlying trading of its royalty partners, as referred to in its Q1 FY21 trading update, has continued into Q2 FY21.
Based on current expectations, the Company expects that cash revenue for the quarter, being cash distributions from its
To put this into context, Duke reported its record quarterly cash revenue in Q4 FY20, when it generated cash receipts of over
Subsequently, and as previously reported, the Company proactively entered into forbearance agreements in Q1 FY21 with those
However, as these agreements expire, Duke is cautiously optimistic that it will be able to announce a further increase in quarterly cash revenue for the period Q3 FY21.
"It is very pleasing to see the increased cash revenue generated by the Company's royalty partners in Q2 FY21 over Q1 FY21. While the pandemic's effects are felt throughout all aspects of the economy and general life, I am proud of the team's response to the crisis, and of the resilience of our royalty partners and the royalty business model. We are focused on continuing to work with our existing royalty partners while also looking for new opportunities in which to deploy our capital."
For further information, please contact www.dukeroyalty.com, or contact:
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+44 (0) 1481 741 240
Cenkos Securities plc
(Nominated Adviser and Broker)
+44 (0) 207 397 8900
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+ +44 (0) 20 3757 6880 [email protected]
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