REG - Duke Capital - Trading and Operational Update

Duke CapitalAnnouncement

30/12/2024 07:00

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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/
(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                                               Adam James / Harry Rees                             +44 (0) 207 523 8000

 (Joint Broker)

 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.

 

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