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Aides put that down to an extraordinarily good performance in the previous year, helped by windfall investments, and said they expected profits to grow in line with inflation next year. The

Duchy's capital value increased by 3.1 percent to £1.09billion, although aides were quick to stress that does not make Charles a billionaire because he has no access to the assets, held

in trust for all heirs to the monarch. But the Duchy warned that uncertainty over the effects of Britain's planned departure from the European Union could affect its farming land in

particular. "Uncertainties in the farming sector mean that future growth in income is difficult to predict," it warned in its annual report. Echoing concerns aired in previous

reports, the report said: "Uncertainty resulting from the UK's decision to leave the EU makes planning and investment decisions more complex, with future circumstances liable to

change. In our recent survey, this was the area of most concern to agricultural tenants." The annual report said that removing the Common Agricultural Policy could reduce the value

placed on farmers protecting the natural environment, although UK subsidies might replace that. The funding of heritage and building projects could also be at risk. The report warned too

that climate change was likely to have severe effects on UK agriculture over the next few decades.