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Alternative capital solutions prvoider Duke Royalty said revenue in the third-quarter swelled to a record and met exepctations.
For its third financial quarter ended 31 December 2021, Cash revenue -- being monthly cash distributions from Duke's royalty partners plus cash gains received from the sales of equity assets and redemption premiums -- totalled £3.9 million for the quarter.
In a normalised cash revenue basis, which excludes the effects of redemption premium receipts and equity sales, normalised Q3 FY22 cash revenue also totalled £3.9 million, representing a record quarter for the company, surpassing the £3.3 million generated in Q2 FY22.
In Q3, the company deployed a record amount of capital in excess of £38 million which was 'more than double the amount deployed by Duke in any previous quarter,' it added.
'[N]ormalised cash revenue continued to grow to record levels in Q3 FY22,' Neil Johnson, chief executive of Duke Royalty, said.
'I expect this growth to continue into Q4 FY22 on the back of substantial new deployments made into both new and existing royalty partners.'