
04 Dec 2018
Cenkos: Duke Royalty Ltd - A profitable operation
Duke's H1/19A interims are the first to show the company producing a statutory net profit following initial deployments of the £42m net proceeds from August's placing. While deployment of the remaining proceeds is taking longer than previously expected, we see this as a positive sign to the rigour of the company's due diligence process. We now expect full deployment to be completed by the end of FY19E. This will produce a step change in Duke's financials per our FY20E forecasts.

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Cenkos: Duke Royalty Ltd - A profitable operation
Duke Capital Limited (DUKE:LON) | 29.8 0 0.3% | Mkt Cap: 151.7m
- Published:
04 Dec 2018 -
Author:
Cavendish Research -
Pages:
6 -
Duke's H1/19A interims are the first to show the company producing a statutory net profit following initial deployments of the £42m net proceeds from August's placing. While deployment of the remaining proceeds is taking longer than previously expected, we see this as a positive sign to the rigour of the company's due diligence process. We now expect full deployment to be completed by the end of FY19E. This will produce a step change in Duke's financials per our FY20E forecasts.