Duke Capital Restricted has reported a 5 per cent year-on-year enhance in income to £6.3m for the primary quarter of the 2025 monetary yr.
The agency, which offers loans for small-and medium-sized companies in Europe and North America, has additionally forecast recurring money income of £6.4m for its second quarter, ending 30 September 2024.
First-quarter income was up 9 per cent on the earlier quarter’s £5.8m. The agency additionally reported money income for the primary quarter of 2025 was £6.8m, following the total exit of Fairmed Healthcare.
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In July, Duke accomplished a £2.9m follow-on funding into Step investments to allow Step to accumulate present mortgage notes and enhance its fairness shareholding in Bay Broadcasting Restricted.
In August, Step accomplished the sale of certainly one of its different working subsidiaries, Metropolis Training & Studying Group Restricted, delivering €5.2m (£4.3m) of money on completion with an extra €3m deferred consideration cost due after two years.
This month, Duke invested an extra £3m of hybrid credit score funding into United Glass Group for the acquisition of Premier Double Glazed Items Restricted. It was the primary acquisition by United Glass since Duke accomplished the secondary share buy transaction earlier in 2024, which noticed Duke’s fairness stake in United Glass enhance to 73.8 per cent.
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“It’s my pleasure to report one other strong quarter of Duke’s working efficiency for Q1 FY25 and to forecast a document recurring income efficiency for Q2 FY25,” mentioned Duke Capital chief government Neil Johnson. “In August, we welcomed the Financial institution of England’s choice to ship the primary charge minimize in over 4 years, for the reason that UK financial backdrop definitely stays difficult relative to the US.
He added: “Regardless of the macros headwinds, it’s pleasing to report that Duke’s diversified portfolio throughout the UK, Eire, Canada and the US continues to ship dependable returns leading to a powerful dividend stream being paid out to its shareholders.”
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