We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Burford Capital Limited | LSE:BUR | London | Ordinary Share | GG00BMGYLN96 | ORD NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
12.00 | 0.99% | 1,225.00 | 1,224.00 | 1,227.00 | 1,228.00 | 1,201.00 | 1,201.00 | 19,962 | 14:51:28 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Unit Inv Tr, Closed-end Mgmt | 1.39B | 610.52M | 2.7883 | 4.38 | 2.67B |
Investment income up 148%
Burford Capital Limited ("Burford" or the “Company”), a leading global finance firm focused on law, announces its financial results for the half year ended 30 June 2017.
Highlights
Sir Peter Middleton, Chairman of Burford, commented:
“In just under eight years, Burford has grown from an £80 million startup to become the clear industry leader. In six months, we have committed almost half a billion dollars to new investments. We look forward to continuing to develop our core business while supporting all our clients with a broad range of financial solutions.”
Christopher Bogart, Chief Executive Officer of Burford, added:
“Burford has had an exceedingly active first half. Our continued strong growth has been driven by rising client demand as well as our ongoing investment in broadening our product offering and pioneering new markets. As the industry advances, we continue to innovate legal cost and risk management techniques while delivering strong investment returns for shareholders.”
Financial Summary
A financial summary is set out below. Burford's complete interim report and unaudited accounts are available at http://www.rns-pdf.londonstockexchange.com/rns/2196M_-2017-7-26.pdf or from the Burford website: http://www.burfordcapital.com/investors.
Six months
ended
30 June 2017
Six months
ended
30 June 2016
% change $’000 $’000 Investment income † 161,633 65,267 Investment management income 7,534 - Insurance income 4,626 5,113 New initiatives income † 897 5,313 Other income 834 522 Total Income 175,524 76,215 130% Operating expenses – investments † (10,611) (9,811) Operating expenses – investment management (3,569) - Operating expenses – insurance (914) (830) Operating expenses – new initiatives † (1,755) (1,457) Operating expenses – corporate (3,720) (2,437) Operating profit * 154,955 61,680 151% Finance costs (10,015) (5,876) Profit before tax * 144,940 55,804 160% Total taxation (2,206) (3,000) Profit after tax * 142,734 52,804 170% Cents Cents Basic and diluted profit per ordinary share** 63.89 25.52 150%† As reported in the 2016 interim report, law firm lending investments are included in the investments segment commencing with the 2016 annual report whereas historically they were included in the new initiatives segment. The 30 June 2016 figures have been restated for comparative purposes.
* Operating profit, profit before tax and profit after tax for 30 June 2017 do not include the amortisation of intangible asset relating to the Gerchen Keller acquisition and investment banking and brokerage fees.
** Calculated on a pure IFRS basis as shown on the Consolidated Statement of Comprehensive Income on page 11 of the 2017 interim report.
Investor and Analyst Conference Call
Management will host a conference call for investors and analysts at 2:00pm (BST) / 9.00am (EDT) on Thursday 27 July 2017. The dial-in number for the conference call is +44 (0) 20 3003 2666 / +1 646 843 4608 / (Toll free +44 (0) 808 109 0700 / +1 866 966 5335) and the password is ‘Burford’.
An accompanying presentation will be available on the Burford Capital website: http://www.burfordcapital.com/investors/
A replay facility will be available until Thursday 10 August 2017 by dialling +44 (0) 20 8196 1998 / +1 866 583 1035 with the passcode ‘5490256#’.
This announcement contains inside information. The person responsible for arranging for the release of this announcement on behalf of the Company is Elizabeth O'Connell, Managing Director.
About Burford Capital
Burford Capital is a leading global finance and investment management firm focused on law. Its businesses include litigation finance and risk management, asset recovery and a wide range of legal finance and advisory activities. Burford is publicly traded on the London Stock Exchange, and it works with law firms and clients around the world from its principal offices in New York, London and Chicago.
For more information about Burford: www.burfordcapital.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20170726006438/en/
Burford Capital LimitedElizabeth O’Connell, CFA, Managing Director+1 212 235 6825orMacquarie Capital (Europe) Limited – NOMAD and Joint BrokerJonny AllisonNicholas Harland+44 (0)20 3037 2000orLiberum Capital Limited - Joint BrokerRichard CrawleyJamie Richards+44 (0)20 3100 2222orNumis Securities Limited - Joint BrokerCharlie FarquharAndrew Holloway+44 (0)20 7260 1000orNeustria Partners - Financial Communications for Burford CapitalRobert Bailhache [email]Charles Gorman [email]Nick Henderson [email]+44 (0)20 3021 2580
1 Year Burford Capital Chart |
1 Month Burford Capital Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions