Hardman & Co Research
Hardman & Co Research: Burford Capital (BUR) Results don't need to be appealed
05-Aug-2019 / 09:40 GMT/BST
Hardman & Co Research: Results don't need to be appealed
Burford has announced its interim results for 1H'19 and has produced another
excellent set of figures. After stripping out third-party interests, revenue
was up 40% to $287m and earnings grew 36% to $225m. Litigation investment was
again the star, with income also increasing 36% to $265m. While this saw some
benefit from the recent Petersen transaction, there were strong results beyond
that with the rest of the portfolio producing a first-half RoIC of 78%. These
brought total recoveries to $1.16bn from 99 investments, with a cumulative
RoIC of 98% (from 85% to 31 December 2018) and IRR of 32% (from 30%).
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851811 05-Aug-2019
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(END) Dow Jones Newswires
August 05, 2019 04:40 ET (08:40 GMT)
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