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 | |
---|---|---|---|---|---|---|---|---|---|---|
-17.00 | -1.39% | 1,210.00 | 1,209.00 | 1,211.00 | 1,250.00 | 1,209.00 | 1,250.00 | 140,847 | 16:35:11 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Unit Inv Tr, Closed-end Mgmt | 1.39B | 610.52M | 2.7883 | 4.34 | 2.65B |
TIDMBUR
RNS Number : 4195B
Burford Capital
10 January 2018
This announcement contains inside information.
10 January 2018
BURFORD CAPITAL REPORTS SIGNIFICANT GROWTH IN INVESTMENT COMMITMENTS
2017 commitments exceed $1.3 billion, more than triple 2016 level
Company also advises re financial calendar and investor meetings re possible bond issue
Burford Capital Limited ("Burford" or "the Company"), a leading global finance and investment management firm focused on law, today reports on the strong growth in its new investment commitments.
In 2017, Burford made $1.3 billion in new commitments, more than triple its 2016 level. The new commitments reflect a number of dynamics in Burford's business: continued growth in demand for capital in its core litigation finance business; access to capital through direct balance sheet investing and its new investment management business; and continued expansion of Burford's product offerings and investment strategies.
The new commitments are broken out below in the same categories used in Burford's interim results for the six months ended 30 June 2017 and investors are referred to Burford's 2017 interim report for an explanation of those categories (available at http://www.burfordcapital.com/investors/financial-reports-and-presentations/).
Total Investment Commitments Balance sheet Fund & other made during financial commitments vehicle commitments year ended 31 December 2017 Single case finance $34.4m 5% $38.3m 6% Portfolio finance $377.8m 54% $347.7m 54% Recourse finance $226.9m 33% $248.4m 38% Legal risk management $59.2m 8% $10.8m 2% ------------------------------ --------- ----- ------------- -------- Total $698.3m 100% $645.2m 100% ------------------------------ --------- ----- ------------- -------- Total Investment Commitments $1,343.5m ------------------------------ -----------------------------------------
Investor Meetings re Possible Bond Issue
Given the growth Burford has experienced, the Company intends to hold meetings with fixed income investors. A bond issue may follow subject to market conditions and pricing.
Notice of Results for the Financial Year ended 31 December 2017
Burford intends to release its full year results on 14 March 2018 and will host a conference call for investors and analysts at 2pm London time (GMT) / 10am New York time (EDT) that day.
As previously noted, Burford's board of directors determines the fair values of investments following the close of each financial reporting period after taking into account the views of management, the operation of the audit process and input from external experts (as it considers appropriate). Generally, that process does not conclude finally until shortly before the release of Burford's financial results for the relevant period and as a result Burford is unable to comment or provide guidance on its 2017 financial results in advance of their release.
Christopher Bogart, Burford's Chief Executive Officer, commented:
"We are delighted with the growth of the business in 2017. The new commitments made during the year have the potential to generate significant future income in the years to come and reflect a robust legal finance market that Burford continues to lead."
The person responsible for arranging for the release of this announcement on behalf of the Company is Elizabeth O'Connell, Chief Financial Officer.
For further information, please contact:
Burford Capital Limited Elizabeth O'Connell, CFA, Chief +1 212 235 Financial Officer 6825 Macquarie Capital (Europe) Limited +44 (0)20 3037 - NOMAD and Joint Broker 2000 Jonny Allison Nicholas Harland Liberum Capital Limited - Joint +44 (0)20 3100 Broker 2222 Richard Crawley Jamie Richards Numis Securities Limited - Joint +44 (0)20 7260 Broker 1000 Charlie Farquhar Harry Trueman Neustria Partners - Financial +44 (0)20 3021 Communications for Burford Capital 2580 Robert Bailhache [email] Charles Gorman [email] Nick Henderson [email]
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, Chicago and Singapore.
For more information about Burford: www.burfordcapital.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTEANFNEESPEFF
(END) Dow Jones Newswires
January 10, 2018 02:00 ET (07:00 GMT)
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