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Hardman & Co Research · ISIN: GG00BYZSSY63 · EQS - Company News (5 News)
Country: Great Britain · Primary market: Guernsey · EQS NID: 1945445
12 July 2024 01:42PM

record cashflows


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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Mark Thomas

 



 

 

mt@hardmanandco.com


 

Hardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement.

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.



Dissemination of a CORPORATE NEWS, transmitted by EQS Group.
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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