Company website www.burfordcapital.com

The company finances large legal cases, in exchange for a percentage of the payout when successful. Burford is the world’s largest publicly traded provider of litigation finance and a major specialty finance provider to the legal industry.

Interim Results for six months ended 30 June 2018

Financial Highlights1



· Profit after tax up 17% to $166.3 million (1H17: $142.7 million)

o Operating profit up 18% to $183.5 million (1H17: $155.0 million)

· Income up 17% to $205.2 million (1H17: $175.5 million)

o 65% of income from realized gains, higher than in FY17 and FY16

· Earnings per share up 21% to 77¢ (1H17: 64¢)

· Cash generation up 61% to $299 million (1H17: $186 million)

· 1H18 dividend of 3.67¢, 20% increase (1H17: 3.05¢)

o Payable on 5 December 2018 with record date of 9 November 2018

· Substantial client demand for Burford's capital reflected in record new investment commitments of $540 million (1H17: $492 million)

o New commitments to single case investments more than doubled to $88 million

o New commitments to portfolio investments up 70% to $205 million

· Total assets up 37% to $1.64 billion (1H17: $1.20 billion)

more.....

Burford Capital secures funding for $1.6bn in new litigation investments

StockMarketWire.com

Investment manager Burford Capital said Wednesday it had entered into a strategic relationship with a sovereign wealth fund and raised a new private fund to finance its litigation investments.

The capital for Burford's next $1.6bn litigation finance investments would be supported by three sources: a sovereign wealth fund; a new private investment fund; and the company's own balance sheet.

The size of its new private fund, the Burford Opportunities Fund, would limited to $300m and the company pledged to allocate 25% of each new litigation finance investment to the fund during the its three-year investment period or until the fund is fully committed. The sovereign wealth fund committed a $1bn pool of capital to be invested on a 2:1 basis, with the investor deploying $667m and Burford providing the remaining $333m.

Burford would allocate 50% of each new litigation finance investment to this pool of capital for the next four years or until the pool is fully committed, whichever occurs first, the company said.

After the recovery of the capital invested, Burford would receive 60% of investment profits while investing only 33% of the capital. The company would also receive a priority distribution in an expected amount of approximately $7m annually to defray Burford's running costs.

'The new capital sources we are announcing will enable us to make $1.6 billion in new investments with only $633 million of that coming from the balance sheet,' said Elizabeth O'Connell, Burford's Chief Financial Officer.

At 9:31am: (LON:BUR) Burford Capital Ltd share price was +253p at 1551p

Story provided by StockMarketWire.com

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SP up 17 1/2%! so far.

a very good company
i have thought about buying in on a few occasions, but never pulled the trigger

Yes me to.

And me 🙄

Up another 5% today.