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Burford Capital net profits up 75%

By BFN News | 07:35 AM | Tuesday 14 March, 2017


Burford Capital reported record income, profits, cash receipts and new investment commitments in the year to the end of December. Net profit after tax rose by 75% to $115.1 million and operating profit increased by 61% to $124.4 million, contributing to a 21.1% ROE. Income increased by 59% to a record $163.4 million (2015: $103.0 million), driven by 60% increase in income from litigation-related investments to $140.2 million (2015: $87.9 million). Earnings per share rose 68% to 53¢ (2015: 32¢). Chairman Sir Peter Middleton said: "Burford has experienced another record year, its seventh consecutive year of significant double digit growth. Burford continues to lead its growing and evolving industry, and looks forward to continuing to innovate to meet its clients' ever-expanding needs. "The Board is grateful for the continued support of our shareholders and bondholders." Story provided by StockMarketWire.com

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