Duke Capital (DUKE) Trading update summary

Trading performance

• Recurring cash revenue for Q2 FY26 is expected to reach £6.6 million, a 3% increase year-on-year from Q2 FY25.

• Revenue is in line with the previous quarter, Q1 FY26, which also reported £6.6 million.

• Total cash revenue includes both monthly distributions and gains from exits or equity sales.

Market and business outlook

• The business model has demonstrated resilience amid persistent high inflation in the UK.

• A recent fall in the UK base rate is expected to enhance the company's attractiveness to investors and support long-term value creation.

Strategic focus and positioning

• Focus remains on capital preservation, attractive dividend yield, and upside from exits.

• The company provides hybrid capital solutions to SMEs in Europe and North America, aiming to eliminate refinancing risk.

• Track record of delivering risk-adjusted returns across market cycles.