Hardman & Co Research
Hardman & Co Research on Duke Capital (DUKE): FY’24 results: record cashflows

12-Jul-2024 / 12:42 GMT/BST
The issuer is solely responsible for the content of this announcement.


Hardman & Co Research on Duke Capital (DUKE): FY’24 results: record cashflows

 

In our April 2024 initiation, we highlighted that DUKE, by optimising the best of equity and debt, aimed to achieve equity-type returns with debt levels of risk. We highlighted four pillars of returns, namely: i) term credit; ii) participating preference share elements, which support DUKE shareholders’ high (2025E: 9.0%), growing (2027E: 14% above FY’24), and 1.7x covered dividend; iii) early exit fees; and iv) equity stakes. The 2024 results saw three of the four show positive returns; consequently, DUKE delivered record recurring cash revenue (+12% to £24.3m) and total cash revenue (+38% to £30.2m), with £18m free cashflow.

Please click on the link below for the full report:

https://hardmanandco.com/research/corporate-research/duke-fy24-results-record-cashflows/

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Contact:

Mark Thomas

 



 

 

mt@hardmanandco.com


 

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About Hardman & Co: Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259. Attention is drawn to the important disclaimers at the end of the report.



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The issuer is solely responsible for the content of this announcement.


End of Announcement - EQS News Service

1945445  12-Jul-2024 

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