"would the aerofoil profile of the duct provide any lift? and if it would, surely it would cancel out as the duct is circular and the lift component would therefore resolve to 0?"
Any tube with positive AoA will generate some lift and especially if the tube has a profile it will provide more lift which is not cancelled out, no matter which way the profile's camber is set or if it is symmetrical. If the tube is not symmetrical but the profile's camber is always "up" both on lower and upper side of the tube it will provide even more lift.
That's my take on it.
-C+