Can Trident Royalties Plc’s Acquisition be a Game Changer for Deterra Royalties (ASX:DRR)?.

Wed 31 Jul 24, 08:00 PM | Team Kalkine

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Highlights

Deterra Royalties Limited (ASX:DRR) is an Australian company specialising in the management and growth of a diverse portfolio of royalty assets. Its focus is on bulk commodities, base metals, and battery metals. With a market capitalisation of AUD 2.03 billion, the company offers an annual dividend yield of 3.63%.

In the first half of FY24, Deterra Royalties achieved 23.4% increase in royalty revenue at AUD 119 million compared to the previous corresponding period (pcp). This growth was primarily driven by a substantial rise in mining area C revenue, which totalled AUD 118.4 million. The increase in revenue was supported by a 28% year-on-year rise in the realised iron ore sales price, though this was partially offset by a 4% decrease in sales volume. Additionally, the company's EBITDA saw a 23.6% year-on-year increase to AUD 113.4 million, while net profit after tax surged 24.1% to AUD 78.7 million.

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