Duke has released its annual results for the period ending 31 March 2023. Total cash revenues increased 19% to a record high of £21.9m, whilst recurring cash revenue per share increased 30% to 3.3p. As a result of the Instor buyout premium and faster capital deployment due to a strong pipeline, we have upgraded FY24E revenue by 9% to £28.2m and FCF p/s by 9% to 3.8p. We release FY25E forecasts which show a 14% increase in recurring cash revenues to £30.1m whilst recurring FCF p/s increases from ....
