Business
Final Results for the year ended 31 March 2024
Final Results for the year ended 31 March 2024.
About this update from Duke Capital Limited
[{"type":"text","content":"\n\n27 June 2024\nDuke Capital Limited\n \n(\"Duke Capital\", \"Duke\" or the \"Company\")\n \nFinal Results for the year ended 31 March 2024\n \nDuke Capital Limited (AIM: DUKE), a leading provider of hybrid capital solutions for SME business owners in Europe and North America, is pleased to provide its audited final results for the 12 months ended 31 March 2024 (\"FY24\").\n \nFY24 Highlights\n \n· 38% year-on-year increase in total cash revenue to a record £30.3 million (FY23: £21.9 million)\n· 12% year-on-year increase in recurring cash revenue* to a record £24.3 million (FY23: £21.8 million)\n· Free cash flow** of £17.9 million, up 40% from £12.8 million in FY23\n· 35% increase in free cash flow per share to 4.34p (FY23: 3.21p)\n· 55% increase in adjusted earnings to 4.85p per share (FY: 3.13p)\n· Quarterly dividend of 0.70p throughout FY24, equating to an annualised dividend of 2.80p\n· Delivered three successful and profitable exits (Instor, Fabrikat and Fairmed), which provided Duke with £23 million of additional liquidity for future deployments\n· Deployed over £46 million of capital during the year, including investments into new capital partners Glasshouse (£9.0 million) and Integrum Care Group (£14.5 million)\n· Completed strategic review resulting in a change of name to Duke Capital and renewed positioning for the Company's unique hybrid credit product.\n \nPost Period End Highlights\n \n· £6.3 million of recurring cash revenue expected in Q1 FY25, representing a 5% year-on-year increase (Q1 FY24: £6.0 million)\n· One additional follow-on investment completed in Q1 FY25 into BPVA (Ireland), deploying £4.0 million of capital\n \n*Recurring cash revenue excludes exit premiums and cash gains from the sale of equity investments\n** Free cash flow is defined as net cash inflows from operations plus cash gains from the sale of equity investments less net transaction costs less interest paid on borrowings\n \nNeil Johnson, CEO of Duke Capital, said:\n \n\"FY24 has been a r...