REG - Duke Capital - Trading and Operational Update

Duke CapitalAnnouncement

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RNS Number : 7112Y  Duke Capital Limited  31 March 2026

31 March 2026

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 fourth quarter of the financial year
ending 31 March 2026 ("Q4 FY26").

 

Trading Update

 

Duke expects to achieve record recurring cash revenue* of £7.0 million in Q4
FY26. This represents an 8% year-on-year increase on Q4 FY25 (£6.5 million)
and an increase of £0.2 million over the prior quarter, which saw the Company
deliver recurring cash revenue of £6.8 million.

 

Total cash revenue for Q4 FY26 is expected to total £8.5 million following
receipt of the final tranche of deferred consideration from the Fabrikat exit
in February 2024.

 

Overview of quarterly revenue growth:

 

                   Recurring Cash Revenue*  Total Cash Revenue**
 Q4 FY25           £6.5 million             £6.5 million
 Q1 FY26           £6.6 million             £6.6 million
 Q2 FY26           £6.6 million             £6.6 million
 Q3 FY26           £6.8 million             £6.8 million
 Q4 FY26 forecast  £7.0 million             £8.5 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

 

Fabrikat exit

 

·        Duke invested £6.2 million into Fabrikat in February 2021
and received £3.2 million in distributions until the sale of the company in
March 2024 to Metalogalva - Irmãos Silvas, SA, a Portuguese company in the
area of engineering and steel protection.

·        Upon sale, Duke received total proceeds of £11.4 million,
including £1.5 million in deferred payments, which resulted in a 35% IRR over
a five-year period.

 

Neil Johnson, CEO of Duke Capital, said:

 

"We are delighted to report another record quarter of recurring cash revenue
for Q4 FY26, rounding off a strong finish to the financial year. This
performance reflects the resilience of our business model in navigating a
challenging macroeconomic environment. Whilst the Bank of England's decision
to hold rates in March reflects the ongoing uncertainty in global markets,
including the situation in the Middle East, our business model has
demonstrated its ability to perform across market cycles.

 

"The receipt of the final deferred consideration from the Fabrikat exit
demonstrates our ability to provide upside for shareholders upon exits. While
exits are expected in our business model, the timing of them is dependent on
the broader fundraising environment. We are pleased to show both the
resilience of our recurring revenue and upside from exits in the current
quarter, and we look forward to updating shareholders further in our annual
results."

 

 

***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)                                  Robin Tozer / Alice Cho / Gwen Samuel               + +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.
Its 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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