Business
Interim Results for six months ended 30 June 2018
Interim Results for six months ended 30 June 2018.
About this update from Burford Capital Limited
[{"type":"text","content":"\n \nRNS Number : 6520V Burford Capital 25 July 2018 \n\nThis announcement contains inside information.\n \n25 July 2018\n \n \nBURFORD CAPITAL FIRST HALF 2018 INCOME UP 17% TO $205 MILLION\nPROFIT AFTER TAX UP 17% TO $166 MILLION\n \n \nBurford Capital Limited (\"Burford\" or \"the Company\"), the leading global finance and investment management firm focused on law, announces its financial results for the six months ended 30 June 2018.\n \n \nFinancial Highlights1\n \n· Profit after tax up 17% to $166.3 million (1H17: $142.7 million)\no Operating profit up 18% to $183.5 million (1H17: $155.0 million)\n· Income up 17% to $205.2 million (1H17: $175.5 million)\no 65% of income from realized gains, higher than in FY17 and FY16\n· Earnings per share up 21% to 77¢ (1H17: 64¢)\n· Cash generation up 61% to $299 million (1H17: $186 million)\n· 1H18 dividend of 3.67¢, 20% increase (1H17: 3.05¢)\no Payable on 5 December 2018 with record date of 9 November 2018\n· Substantial client demand for Burford's capital reflected in record new investment commitments of $540 million (1H17: $492 million)\no New commitments to single case investments more than doubled to $88 million\no New commitments to portfolio investments up 70% to $205 million\n· Total assets up 37% to $1.64 billion (1H17: $1.20 billion)\n \nSir Peter Middleton, Chairman of Burford, commented: \n \n\"Burford has experienced another stellar half-year, setting new records for income and profit. Burford continues to set the pace for a growing industry, in its scale, product development and risk-adjusted returns. The Board is grateful for the continued support of our all of our stakeholders.\"\n \nChristopher Bogart, Chief Executive Officer of Burford, added: \n \n\"The expansion of the litigation finance industry continues, with more demand for our capital, growing opportunities for us to invest, continued vigilance in investment selection, and another increase in our profits. This past half-year affirms the trends we've increasingly set for more than eight years, with Burford's superior growth reflected in rising scale relative to longstanding competitors. The simple fact that we committed half-a-billion do...