Duke Capital Limited (LSE:DUKE) has committed an additional £3.7 million to Step Investments Limited, supporting the acquisition of Galway Bay FM by Step’s subsidiary Bay Broadcasting Limited. This deal expands Bay’s portfolio to four leading Irish radio stations, establishing it as the second largest commercial radio group in Ireland. With this latest transaction, Duke’s total financing in Step now stands at £15.2 million, underscoring its ongoing strategic partnership aimed at strengthening Step’s media assets across the UK and Ireland.
Duke Capital’s near-term outlook is shaped by mixed financial dynamics. While the company offers an attractive dividend yield, it faces headwinds from revenue and profitability declines, and technical indicators signal a bearish trend. A relatively high P/E ratio also raises valuation concerns, tempering investor sentiment despite its income appeal.
More about Duke Capital
Duke Capital is a specialist provider of hybrid capital solutions for SME business owners across Europe and North America. Its model blends the strengths of equity and debt financing to deliver long-term funding without refinancing risk, aligning investor returns with business performance. Listed on AIM under the ticker DUKE and headquartered in Guernsey, the company focuses on generating strong risk-adjusted returns for shareholders.
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