Duke Royalty (DUKE)

Duke Royalty DUKE Logo

A Guernsey based royalty investment company which specialises in diversified royalty financing and provides alternative capital solutions to a range of businesses in Europe and abroad.


Added this as I opened a Long position. Not a sector I usually invest in (Holding Company) but noticed it acquired it’s only known competitor and is way undervalued on a 1 and 2 Year view based on forecast Revenue, PBT, EPS and Dividend growth (Yield is currently 7% or so).

14-Aug-2019 – 44p – £88m – PER 12

Trading Update For The 12 Months To End March 2019 – Results to show significant uplift on last year, Revenue and Cash Flow in-line. Pipeline remains strong.

I am Long here and if forecasts are met this still looks like good value to me on a 1 and 2 Year view. Based on the latest Broker note this morning, in my opinion, looks way undervalued on a 1 Year and 2 Year view – Net Debt a minor concern but all round growth and 6% or so Yield look good.

9-Sep-2019 – 48p – £95m – PER 23

Results For The 12 Months To End March 2019 – Revenue up 240% to £6.1m (£1.8m), PBT of £1.91m, Diluted EPS of 1.1p, the Dividend up 33% to 2.8p (2.1p).

I am Long here but this looks like a miss on PBT and EPS – Will observe the market reaction here this morning.

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