Duke Capital Limited

We are pleased to provide a trading update for the third quarter of the financial year ending 31 March 2025. 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. Our CEO Neil Johnson 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." Read more details below:   #DukeCapital #TradingUpdate #PrivateCredit #HybridFinance #HybridCapital

Our results for the six months ended 30 September 2024 released today reflects the resilience of our business model and the strength of our portfolio. We have deployed over £15 million of capital into existing Capital Partners, enable them to deliver on their buy and build strategies. Highlights: -         Recurring cash revenue totalled £12.7 million, an increase of 4% on Interim 2024 -         Cash dividends of 1.40 pence per share paid to shareholders -         Completed a £23.5 million fundraise post period end to support portfolio M&A and progress Duke’s third party, non-dilutive funding strategy to accelerate scale -         Positive outlook with a number of buy and build opportunities in the portfolio’s pipeline and a diversified portfolio positioned for continued resilience Our Chairman, Nigel Birrell, said: “During the first six months of FY 2025, we have continued to prove our ability to deliver. We continue to increase recurring cash revenue, driven by the team’s successful execution on several growth opportunities. This is testament to the quality of the portfolio we have established and the significant potential it holds for continued capital appreciation. With a strong, well-funded balance sheet and numerous growth opportunities under review, we have a positive outlook for the months ahead. The private credit and direct lending markets continue to go from strength to strength and we have confidence that our diversified portfolio is well positioned for continued resilience. We look forward to updating the markets on our progress.” Read more details below: #DukeCapital #PrivateCredit #SMEFinance #HybridFinance

We are excited to share the latest research paper from Capital Access, alongside the successful completion of our recent capital raise. This milestone reflects significant progress in Duke's growth journey, and we are eager to build on this momentum in the next phase. You can access this paper, along with our investor presentation, on our website here. https://lnkd.in/ejjBGwMC #Research #Equities #UKEquities #AIM #Fundraising #investmentresearch #investorrelations

We're excited to partner with Alan Shala and Chelsea Corporate for the upcoming webinar on 31st October and look forward to providing businesses with valuable insights into the types of companies we invest in and our overall investment process. You can register for the webinar in the post below.

We are pleased to provide a trading update for the first quarter of the financial year ending 30 June 2025.   We delivered recurring revenue of £6.3 million, representing a 5% increase year-on-year and 9% growth from the previous quarter. Total cash revenue for the quarter was £6.8 million, driven by the full exit of Fairmed Healthcare. During the quarter, we completed a £2.9 million follow-on investment in Step Investments, supported the sale of City Education & Learning Group for €5.2 million with an additional €3 million deferred, and invested £3.0 million into United Glass Group to facilitate its acquisition of Premier Double Glazed Units. Our CEO Neil Johnson said: “It is my pleasure to report another solid quarter of Duke’s operating performance for Q1 FY25 and to forecast a record recurring revenue performance for Q2 FY25. In August, we welcomed the Bank of England’s decision to deliver the first rate cut in over four years, since the UK economic backdrop certainly remains challenging relative to the United States.   “Despite the macro headwinds, it is pleasing to report that Duke’s diversified portfolio across the UK, Ireland, Canada and the United States continues to deliver reliable returns resulting in a strong dividend stream being paid out to its shareholders.” Read more details below: #DukeCapital #TradingUpdate #PrivateCredit #HybridFinance #HybridCapital

We are pleased to announce that the Board has approved an interim dividend of 0.70 pence (sterling) per share in respect of the second quarter of Duke’s financial year.  Read more details below:  #DukeCapital #dividend #PrivateCredit #HybridFinance #HybridCapital

It's great to see that Duke has been recognised as one of the Top UK Dividend Shares on the FTSE 250 and AIM by DirectorsTalk Interviews. We are proud of our robust track record of delivering attractive returns to our shareholders; you can read more about our attractive dividend yield and our record FY24 results in the article below. #DukeCapital #AIM #FTSE #PrivateCredit #Dividends https://lnkd.in/gVgquzGP

We are pleased to announce a follow-on investment of £3.0 million into our existing capital partner, United Glass Group (UGG). This investment will support UGG in completing its latest acquisition of Premier Double Glazed Units Limited, a business with market leading automated manufacturing capability of insulated glass units. This transaction represents UGG’s first acquisition since Duke completed the secondary share purchase earlier in 2024, which saw our equity stake in UGG increase to 73.8%. With this latest investment, our total commitment to UGG now stands at £15.0 million.   Our CEO Neil Johnson said:   “This latest funding increases our total investment in a partner which has consistently delivered since we first commenced our partnership in 2018. It is pleasing to see UGG successfully executing its buy-and-build strategy, expanding its presence as a national leader in the glass processing market. UGG’s acquisition and strategic progress further validates our decision to increase our holding in UGG earlier in the year and as a longstanding partner, we are fully committed to providing the capital and support needed to realise UGG's vision and drive their continued success.”   Read more details below:   #DukeCapital #PrivateCredit #HybridFinance #HybridCapital

We are pleased to announce that our existing capital partner, Step Investments Limited, has successfully completed the sale of its subsidiary, City Education & Learning Group Limited, to Planet Education Works, a leading provider of educational services. This transaction generated initial cash proceeds of €5.2 million for Step, with a put and a call option agreed to sell the remaining 25% interest on the second anniversary date for a further €3.0m. Since 2018, Duke has proudly invested £11.5 million in Step, supporting its growth across the UK and Ireland. Our CEO Neil Johnson said: "The team at Step continue to prove themselves as savvy dealmakers who are able to identify attractive businesses with potential for scalability. The sale of City Colleges is on the back of strong operating performance and increased business diversification, which in turn, invited a strong offer for the business by PEN.” Mike Ormonde, Step CEO said: "This exit represents an outstanding return for Step having taken majority control of City Colleges just three years ago in a transaction funded by Duke. The proceeds from the sale will allow Step to continue its buy and build strategy with a renewed focus on media opportunities across the UK and Ireland.” Read more details below: #M&A #Irish #SME #PrivateCredit #HybridFinance #HybridCapital

On September 1st, Alastair Thomas will assume the role as the CEO of Miriad, a Duke portfolio company since 2019. Alastair brings a wealth of experience to the business and we look forward to working with him!