Hardman & Co Research
Hardman & Co Research: Burford Capital (BUR): Mixture of strong and weak
activity in 2019
26-Feb-2020 / 14:10 GMT/BST
Hardman & Co Research: Mixture of strong and weak activity in 2019
Burford recently released its first-ever trading statement, covering cash
activity in 2019. Group-wide commitments set a new record of $1.57bn, a 24%
increase. Overall deployments were almost flat compared with 2018, at GBP1.07bn.
In both, the Sovereign Wealth Fund (SWF) and fund arrangements increased their
share. It was, however, a quiet second half for realisations on-balance sheet
in the core litigation finance business. 2019 profits will be lower than in
2018, with Burford indicating that net realised gains will be ca.$20m-$30m
lower than in 2018 and net unrealised gains ca.$50m-$70m lower.
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984103 26-Feb-2020
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(END) Dow Jones Newswires
February 26, 2020 09:10 ET (14:10 GMT)
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