Duke Capital Limited Trading and Operational Update

RNS Number : 4879R

Duke Capital Limited

30 December 2024

 

30 December 2024

Duke Capital Limited

 

("Duke Capital", "Duke" or the "Company")

 

Trading and Operational Update

 

Duke Capital Limited (AIM: DUKE), a leading provider of hybrid capital solutions for SME business owners in Europe and North America, is pleased to provide guidance on its trading for the third quarter of the financial year ending 31 March 2025 ("Q3 FY25"), being the three months ended 31 December 2024.

 

Trading Update

 

Based on current trading, Duke expects to achieve recurring* cash revenue of £6.5 million in Q3 FY25. This represents a 4% year-on-year increase on Q3 FY24 (£6.3 million) and an increase on the prior quarter, Q2 FY25, which saw the Company deliver record recurring cash revenue of £6.4 million.

 

Overview of quarterly revenue growth:

 

	Recurring Cash Revenue*	Total Cash Revenue**
Q2 FY24	£6.2 million	£6.2 million
Q3 FY24	£6.3 million	£6.3 million
Q4 FY24	£5.8 million	£10.2 million
Q1 FY25	£6.3 million	£6.8 million
Q2 FY25	£6.4 million	£6.8 million

 

* Recurring cash revenue excludes exit premium receipts and cash gains from equity sales

** Total cash revenue is monthly cash distributions from Duke's partners plus exit premium receipts and cash gains from equity sales

 

 

Other Highlights

 

·        In December, Duke completed a £23.5 million fundraise to support portfolio M&A and progress Duke's third party, non-dilutive funding strategy to accelerate scale

 

·        Significant progress made in the search for third-party capital partner to support Duke through its next phase of growth

 

Neil Johnson, CEO of Duke Capital, said:

 

"We are pleased to report that despite the ongoing uncertainties in the UK markets, we continue to deliver revenue growth, with Q3 FY25 on course to continue our trend of delivering increasing quarterly revenues. This performance underpins our stable dividend which at the current share price, represents an approximate 9% yield. With a strong balance sheet in place following our recent fundraise, we are well positioned to support a range of growth opportunities within our existing portfolio which are expected to be accretive to Duke in the future."

 

 

 

***ENDS***

 

For further information, please visit https://dukecapital.com/ or contact:

 

Duke Capital Limited	Neil Johnson / Charles Cannon Brookes / Hugo Evans	[phone]
Cavendish Capital Markets Limited (Nominated Adviser and Joint Broker)	Stephen Keys / Callum Davidson / Michael Johnson	[phone]
Canaccord Genuity Limited (Joint Broker)	Adam James / Harry Rees	[phone]
SEC Newgate (Financial Communications)	Elisabeth Cowell / Alice Cho / Olivia Hart	+ [phone] [e-mail]

 

 

About Duke Capital

 

Duke is a leading provider of hybrid capital solutions for SME business owners in Europe and North America, combining the best features of both equity and debt.

 

Since 2017, Duke has provided unique long-term financing which eliminates re-financing risk and necessity for a short-term exit by providing a unique 'corporate mortgage' while also aligning its returns to grow with the success of the business.

 

Duke is focused on generating attractive risk-adjusted returns for shareholders and has a track record of achieving this across market cycles. It's three investment pillars are capital preservation, attractive dividend yield, and to provide upside upon exits.  Duke is listed on the AIM market under the ticker DUKE and is headquartered in Guernsey.

 

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END

 

 

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