Hardman & Co Research
Hardman & Co Research: Burford Capital (BUR): Putting fears to rest
03-Jun-2020 / 16:25 GMT/BST
Hardman & Co Research: Putting fears to rest
Burford has announced its results for 2019. As previously indicated, these
were lower than in the previous year. Revenue fell 17% from $430m in 2018 to
$357m. Profit after tax, on Burford's basis, declined 31% from $329m to $226m.
As announced earlier, there will be no final dividend so only the interim
dividend of ¢4.17 was paid for FY19. Unusually, Burford has also released a
trading update for early 2020 alongside its main figures. Court results and
arbitral awards have been obtained that would generate some healthy profits.
Most notable is $200m in income ($300m in cash receipts) regarding which
further legal review is unlikely.
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1061975 03-Jun-2020
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(END) Dow Jones Newswires
June 03, 2020 11:25 ET (15:25 GMT)
