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DUKE Duke Capital Limited

29.00
0.00 (0.00%)
30 Jan 2025 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Duke Capital Limited LSE:DUKE London Ordinary Share GG00BYZSSY63 ORDS NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 29.00 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
28.50 29.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Unit Inv Tr, Closed-end Mgmt 25.59M 11.61M 0.0228 12.61 147.85M
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 29.00 GBX

Duke Capital (DUKE) Latest News

Duke Capital (DUKE) Discussions and Chat

Duke Capital (DUKE) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2025-01-29 17:15:0028.50500,000142,500.00O
2025-01-29 16:35:1129.00340,15298,644.08UT
2025-01-29 15:56:0228.9340,00011,570.00O
2025-01-29 15:46:4029.0010029.00O
2025-01-29 15:41:2428.895,0001,444.53O

Duke Capital (DUKE) Top Chat Posts

Top Posts
Posted at 29/1/2025 08:20 by Duke Capital Daily Update
Duke Capital Limited is listed in the Unit Inv Tr, Closed-end Mgmt sector of the London Stock Exchange with ticker DUKE. The last closing price for Duke Capital was 29p.
Duke Capital currently has 509,815,773 shares in issue. The market capitalisation of Duke Capital is £146,572,035.
Duke Capital has a price to earnings ratio (PE ratio) of 12.61.
This morning DUKE shares opened at -
Posted at 08/1/2025 10:56 by martinmc123
LIKE – Likewise Group
4*
Likewise Group issued a positive update this morning announcing that total Group Revenue for the year ended 31 December 2024 was £150.8 million. Management indicated encouragement that this important milestone has been reached, the share price agreed and is up over 4% today and is extending its 1-month move higher....

...from WealthOracle

wealthoracle.co.uk/detailed-result-full/LIKE/1120
Posted at 07/1/2025 15:25 by boystown
Re-tipped by Simon Thompson who concludes as follows:

"Duke’s portfolio includes £218mn of hybrid credit investments with 14 capital partners, £5.4mn of loan investments with two partners, and £16.9mn of equity investments with 11 partners. Analyst Andrew Renton at house broker Cavendish believes the equity holdings could have an unrealised value of more than £50mn (9.8p) in exit premiums, a sizeable sum in relation to Duke’s market capitalisation of £157mn (30.7p) and its proforma net asset value (NAV) of £185.4mn (36.4p).

"Adjusting for the post period end equity raise, proforma net borrowings of £55.2mn equate to 30 per cent of NAV although gearing will rise to around 42 per cent when all the surplus cash is deployed. Free cash flow (FCF) will improve, too, as recurring quarterly revenue of £6.5mn in the latest quarter continues to grow. Cavendish predicts FCF of £13mn in the 12 months to 31 March 2025 will rise to £17.3mn in the new financial year, so easily covering the £14mn (2.8p) cash cost of the dividend on the enlarged share count. In other words, the 0.7p a share quarterly dividend underpinning the 9.1 per cent dividend yield is secure.

"The hefty dividend yield and 16 per cent discount to proforma NAV of 36.3p explain why Duke’s share price has held up well since I selected the Aim-traded shares, at 29p, in my 2021 Bargain Shares Portfolio. The holding has delivered a 41.9 per cent total return (TR), a material outperformance of the FTSE Aim All-Share TR index, which has declined 35.7 per cent in the same 47-month holding period. Expect the outperformance to continue. Buy."
Posted at 30/12/2024 09:39 by martinmc123
3*
Duke Capital Limited, a leading provider of hybrid capital solutions for SME business owners in Europe and North America, issued some fairly average looking guidance on its trading for the third quarter of the financial year ending 31 March 2025 this morning. Based on current trading, Duke expects to achieve recurring cash revenue of £6.5 million in Q3 FY25 which 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. The business is growing slowly but ...from WealthOracle

wealthoracle.co.uk/detailed-result-full/DUKE/1109
Posted at 15/11/2024 09:33 by parob
Yeah me too as I bought some at 30.5p a few days back. Happy to average down a touch though and hopefully that's a floor to the share price going in. Happy to collect the 10%+ dividends in my income portfolio :)
Posted at 20/5/2024 08:38 by stagvalley
If we separate share price movements from an assessment of the company, does anyone have concerns about their risk profile and investments? From my perspective it all looks good. The share price hasn't gone anywhere over the last few years but I like the business model and the dividend is strong, seemingly robust, and growing. Apart from disappointment in share price growth, I'd be interested if anyone has serious concerns about the business model. The only failed investment I'm aware of is a cruise company during the pandemic. Seems to me a good use of about 5 percent of a portfolio. Anyone disagree?

For the person who finds Advfn unuseable on a phone due to adverts, that was my experience until I got a free version of Avast. Now fine.
Posted at 06/3/2024 07:23 by senttothegallows
Successful Exit of Investment in Fairmed Healthcare AG



Duke Capital Limited (AIM: DUKE), a leading provider of hybrid capital solutions for SME business owners in Europe and North America, is pleased to announce the successful exit of its investment in Fairmed Healthcare AG ("Fairmed"), a Switzerland-based provider of high-quality generic prescription medicines, over-the-counter pharmaceuticals, dermocosmetics and dietary supplements in various EU countries.



Overview



· Headline cash consideration of €11.4 million, providing Duke with additional liquidity for new deployments into its pipeline of long-established, profitable businesses

· Payment of €6.0 million has been received with the balance of €5.4 million to be paid by 31 March 2024

· This represents the seventh exit for Duke, delivering its sixth profitable exit. The exit of Fairmed is at the upper end of the expected rate of return for Duke with no equity participation

· Duke's financing solution enabled Fairmed's management team to retain its minority equity stake, while receiving the capital to support the expansion of its product portfolio

· Duke's investment exit was facilitated by Fairmed's majority owner, Strides Pharma Global Pte Ltd, a fully owned subsidiary of Strides Pharma Science Limited ("Strides"). The prepayment of Duke's investment paves the way for Strides to initiate the next phase of its European strategy, utilising Fairmed to expand and strengthen its presence in the region
Posted at 07/2/2024 06:11 by carcosa
I first bought into DUKE February 2021. I liked the idea of a what was being touted as long terms loans into well researched and run businesses. It seemed relatively low risk, high return and a growth business for DUKE.

Clearly when the pandemic struck practically all businesses were in survival mode and DUKE managed it well.

Around the same time DUKE were taking on equity stakes which to me seemed a reasonable outcome as a consequence of the pandemic. Other businesses also did the same thing e.g. Avation and others. But those equity stakes were supposed to be a short term situation to get over the hump post covid.

Subsequently from the few customers DUKE has that issue financial reports mostly through Companies House some were and had been for years in a distressed situation. One or two clearly rely on DUKE to stay in business. In the long term it 'should' be okay because progress over many years will sort themselves out. However these business's were struggling before DUKE came along and I started to question the robustness (or their parameters) of their due diligence research.

The question that is often raised is why would a business pay extraordinary interest over and above the normal financing options. Duke has certainly marketed their advantages which also included not taking equity stakes, having board representation etc., However it they were such a great option then they should have been signing up new customers by the month.

Some months ago I stated that I saw Duke as being a quasi venture capitalist. For example they have deals whereby they have committed several follow on funds to an investee.

Following this 'rebranding' by Duke I am very much of the belief that that is what Duke is turning toward. 30% equity stakes is a very different proposition to how Duke started out.


Whilst I was okay with sitting back and collecting the dividends, seeing it as a bit of a passive income stream the company has changed, in my opinion, to a venture capitalist company or a investment company; much higher risk. Not what I signed up for. Hence I have been selling out of my reasonably large position since September last year and finally sold the last of my shares earlier this week. I just see better opportunities elsewhere.

On a wider picture falling interest rates will make Duke more valuable as a shareholder and indeed the investee companies should mostly benefit from a reducing inflation/bank rate so anyone who sticks with Duke for a few years is likely to be ok with it IMO.

Bye :-)
Posted at 12/4/2023 05:12 by carcosa
Just because a company has profitable operations does not mean it cannot go bankrupt.

High debt: Even if a company is profitable, it may still have a significant amount of debt which unsurprisingly tends to be a feature of Duke's business. If the company is unable to service its debt obligations, it may go out of business.

Poor cash flow management: Again, a company may have profitable operations, but if it doesn't manage its cash flow effectively, it may run out of money to pay its bills and employees . This can ultimately lead to bankruptcy.

There are other somewhat less likely issues such as if a company is facing a costly legal battle or lawsuit, it can deplete its resources and ultimately lead to bankruptcy, even if it has profitable operations.

Market conditions: Changes in the market or industry can lead to decreased demand or increased competition, which can cause a decline in profits and eventually lead to bankruptcy. i.e. a declining profitable business.

Mismanagement: Poor management decisions, such as expanding too quickly or investing in unprofitable ventures, can lead to financial difficulties and ultimately result in bankruptcy, despite having profitable operations in the past.

In a similar vein is Lynx Equity (UK). After Duke handed out another 1.5m (Total 15m) follow on to keep the lights on in March 2022 by July 2022 the company only had 0.27m in cash. Now that would be fine if they had spent most of it on aquiring something but in actual fact their investment interests went from 13m to 11.7m.

So in reality that was a loss of 1.3m + 1.5m = 2.8m which roughly concurs with an increase in their profit and loss reserve; now standing at 9.2m

However they also have 10.6m in debtors - They often appear to have a very large debtor book so its a relatively stable figure fwiw. This leads to a positive and healthy positive 11.2m in net assets (down from 16.7m the year before on a current basis. However factoring in the 15.2m owed longer term (mostly to Duke I assume) it results in a negative equity of 4m.

Now if Lynx get to a profitable state then the long term nature of Duke's loan is nothing to be overly concerned about. However, that is a big 'if'

Within the accounts they state that the company is dependent on the company's ultimate parent undertaken and that they believe finances will be available if required to maintain the going concern basis.

So overall yet another (long term) poor business Duke are involved with which again makes me question their screening process in the early days of the company.

However...whilst Lynx appears to be much worse state than even Trimate, Lynx is a subsidiary of a huge company based in the US called Lynx Equity hxxps://www.lynxequity.com/portfolio/ which in itself is a very very interesting company. With such a thriving parent company we don't know what (if any) guarantees they may have provided for Duke, or if it suits them to have an overseas subsidiary to be making a loss. It just gets more complicated and us shareholders will never be in a position to evaluate the risk of Lynx Equity (UK) being in Duke's portfolio.

But lets not get carried away. Even if Trimate was to collapse (and I am not saying it will) the overall thrust of my concern is why did Duke enter into such partners to begin with. Was Trimate seriously the best they could find at the time? As a consequence Duke is now a significant equity holder which is not what us investors signed up for. It raises concern as to the quality of the portfolio. The latter partners, from what I can tell, are worlds above in terms of quality businesses than the early ones.

I reckon current run rate is 6m up from Dukes last reported 5.6. It's one thing to invoice for that amount it's quite another to get it paid. On that front it was very pleasing to see a reduction in receivables of 10m reduce to 3m in the last accounts. Should be remembered that a further 2.2m cash is scheduled to be received before before 30 June 2023 from the Riverboat sale. So it appears Duke are doing a great job of getting paid.


The 6% collar sounded a great idea before inflation became a household word again. Without new business the most Duke's revenue can increase is significantly below the current inflation rate. Profitability could decline in having to pay increased interest of Duke's debt.

Having said all of that, the current share price for Duke seems well below that of what even the most realistic pessimist could justify and over the long term inflation/interest rates are forecast to decline anyway.

You have to start asking whether or not todays share price is offering exceptional value.



Misc:
BTG. I meant 2021 not 2011. Typo. Sorry. Imagine what would happen if you went through Duke's business with such an eye on their figures as opposed to mine!

podgyted: Yes I moved away from Stocko a few years ago. Have reduced by forum postings considerably over the last few years. Occasionally post on TLF & Twitter. Still miss the TMF days lol!
Posted at 12/12/2022 08:05 by cwa1
Refinance and Upsize of Credit Facility to £100 million on
Improved Terms with Fairfax Financial



Duke Royalty, a provider of alternative capital solutions to a diversified range of profitable and long-established businesses in Europe and North America , is pleased to announce that it has entered into a new £100 million credit facility agreement (the "New Credit Facility") with Fairfax Financial Holdings Limited and certain of its subsidiaries ("Fairfax").



The material terms of the New Credit Facility are as follows:



· Term facility of up to £100 million to replace Duke's existing £55 million term and revolving facilities

· Five-year term, expiring in January 2028 with a bullet repayment on expiry and no amortisation payments during the five-year term

· Interest rate equal to SONIA plus 5.00% per annum, which represents an improvement of 225bps on Duke's existing rate of SONIA plus 7.25%

· As part of the deal, Duke will issue 41,615,134 warrants to Fairfax with a five-year maturity and strike price of 45 pence reflecting the strategic nature of the deal

· Initial drawdown of the New Credit Facility expected to occur in mid/late January 2023 coinciding with the expiry of the non-call period enshrined in Duke's existing credit facilities



The New Credit Facility will provide Duke with a significant amount of additional liquidity and will push out the Company's requirement for additional equity capital. Furthermore, the New Credit Facility comes at a lower cost to the Company's existing credit facility thereby having an immediate and material impact on the free cash flow of the Company.



Neil Johnson, CEO of Duke Royalty, said:



"I am delighted to announce this upsized credit facility with Fairfax on improved terms for Duke shareholders. Fairfax is an internationally recognised and well respected company. Both Duke and Fairfax have similar philosophies of investing in a supportive way over the long term and I believe that this is the start of a long standing and mutually beneficial relationship.



"The upsizing of the New Credit Facility will allow Duke to accelerate its growth and deployment schedule without any near-term equity dilution. More strategically, Fairfax and Duke believe our partnership can benefit more businesses looking for long-term, flexible capital solutions by increasing Duke's capital base and diversification, as well as benefit Duke's shareholders through higher free cash flow per share."



Prem Watsa, Chairman and CEO of Fairfax, said:



"We are impressed with the degree to which Duke's investing philosophy aligns with our own - focusing on lending to established, profitable, cash-generating, well-managed companies, with incentivised management teams. We are delighted to be partnering with Duke and believe that there is a large group of companies that can benefit from Duke's long-term flexible support."
Posted at 17/7/2022 09:09 by btgman
Looking at the current yield at 8% I still have a view that share price is undervalued but where should it be?

Duke Share price at varying yields
8%=32.50p
7.5%=37.33p
7%=40.00p
6.5% 43.07p
6%=46.67p
5.5%=50.9
5%=56p


There are many things to consider and to compare against but all of the above are higher than the FTSE 100 average:-

Average FTSE 100 yield is under 4%
Highest is circa 7.5% tobacco companies
Lowest 2% with a small number paying nothing


There are stocks around in the FTSE 250 paying 9%+ but I would argue the share price is likely to be more volatile than Duke in the current climate.

Duke have 30 year contracts in place with over 20 Royalty Partners linked to turnover across multiple sectors and countries with positive royalty kickers likely in September 2022 results announcement.

Hidden benefits also exist with potential for over £30m of exit fees as Royalty partners exit at some point. Recycling of this cash and the compounding effect is powerful as highlighted previously.

Finally we have many equity stakes in our Royalty partners valued in accounts at circa £3.5m upside for this is quite significant.


So back to original question where should share price be I think 6% would be a decent rate of dividend return and given the 6% kickers and equity stakes I don't feel that would be challenging which puts Duke share price target at 46.67p v the current 32.5p

AIMHO
GLA
BTG
Duke Capital share price data is direct from the London Stock Exchange

Duke Capital Frequently Asked Questions (FAQ)

What is the current Duke Capital share price?
The current share price of Duke Capital is 29.00p
How many Duke Capital shares are in issue?
Duke Capital has 509,815,773 shares in issue
What is the market cap of Duke Capital?
The market capitalisation of Duke Capital is GBP 147.85M
What is the 1 year trading range for Duke Capital share price?
Duke Capital has traded in the range of 26.65p to 34.75p during the past year
What is the PE ratio of Duke Capital?
The price to earnings ratio of Duke Capital is 12.61
What is the cash to sales ratio of Duke Capital?
The cash to sales ratio of Duke Capital is 5.73
What is the reporting currency for Duke Capital?
Duke Capital reports financial results in GBP
What is the latest annual turnover for Duke Capital?
The latest annual turnover of Duke Capital is GBP 25.59M
What is the latest annual profit for Duke Capital?
The latest annual profit of Duke Capital is GBP 11.61M
What is the registered address of Duke Capital?
The registered address for Duke Capital is GROUND FLOOR, CAMBRIDGE HOUSE, LE TRUCHOT, GUERNSEY, ST PETER PORT, GY1 1WD
What is the Duke Capital website address?
The website address for Duke Capital is dukecapital.com/
Which industry sector does Duke Capital operate in?
Duke Capital operates in the UNIT INV TR, CLOSED-END MGMT sector

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