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
|
+44 (0)
1481 231 816
|
|
Cavendish Capital Markets Limited
(Nominated Adviser and Joint Broker)
|
Stephen Keys / Callum Davidson /
Michael Johnson
|
+44 (0)
207 220 0500
|
|
|
|
|
|
Canaccord Genuity Limited
(Joint Broker)
|
Adam James / Harry Rees
|
+44 (0)
207 523 8000
|
|
SEC Newgate (Financial
Communications)
|
Elisabeth Cowell / Alice Cho /
Olivia Hart
|
+ +44 (0)
20 3757 6882 dukecapital@secnewgate.co.uk
|
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.
