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.

Some chart there Juzzle?

27 July 2017

BURFORD CAPITAL DELIVERS 151% GROWTH IN FIRST HALF OPERATING PROFIT
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

●
Best ever results in Burford's history: 1H 2017 profit exceeds record profit for full year 2016


●
Income increased by 130% to $175.5 million (H1 2016: $76.2 million), driven by a 148% increase in investment income to $161.6 million (H1 2016: $65.3 million)


●
151% increase in operating profit to half-year record of $155.0 million (H1 2016: $61.7 million), and 170% increase in profit after tax to $142.7 million (H1 2016: $52.8 million)


●
Interim dividend of 3.05¢ (H1 2016: 2.67¢) declared, at the rate of one third of total 2016 dividend - an increase of 14% over last year's interim dividend. Interim dividend payable on 15 November 2017 with record date of 20 October 2017


●
Strong demand for Burford's capital, with record new commitments to investments of $488 million (comprising $226 million from our balance sheet and $262 million from our investment funds), $289 million of which already deployed


●
Record investment performance underpinned by 11 investments, including largest cash generation from a single investment in our history, the sale of 25% of our ongoing Petersen investment


●
Cash generation of $173.7 million from investments on balance sheet, exceeding every previous half-year period


●
Oversubscribed retail bond offering, raising £175 million at a 5% coupon, to further support client demand and future growth


●
Gerchen Keller acquisition and integration successful and well-received, first fund starting to generate performance fees. Burford's new investment management business closed largest investment fund ever raised in sector, at $500 million, to invest in complex strategies

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: 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#'.


The person responsible for arranging for the release of this announcement on behalf of the Company is Elizabeth O'Connell, Managing Director.

For further information, please contact:


Burford Capital Limited

Elizabeth O'Connell, CFA, Managing Director
+1 212 235 6825


Macquarie Capital (Europe) Limited - NOMAD and Joint Broker
+44 (0)20 3037 2000
Jonny Allison

Nicholas Harland



Liberum Capital Limited - Joint Broker
+44 (0)20 3100 2222
Richard Crawley

Jamie Richards



Numis Securities Limited - Joint Broker
+44 (0)20 7260 1000
Charlie Farquhar

Andrew Holloway



Neustria Partners - Financial Communications for Burford Capital
+44 (0)20 3021 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 and Chicago.

For more information about Burford: www.burfordcapital.com

Indeed Stan. I am puzzled that no discussion thread existed already, hence this one. Share price up sevenfold in two years. Today's Results statement might add to that!

For me - these have been on the same list as FEVR :-(

Oh dear, skinny! (You might see others on my Portfolio 69 thread)

My only reservation (as always with me these days) is that it's an AIM stock, but never the less they look very impressive.

Well done Juzzle.

I looked at it early last year and put it on my watch list - and that's what I did - watched!!!

Who Should Attend?Date:

Wednesday 11 April 2018

Venue:

Novotel Tower Bridge, London EC3N 2NR, 10 Pepys Street, London, EC3N 2NR

Event Timings:Sponsored by:

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

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

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.