| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Burford claims 2020 as 'best year' for portfolio performance
StockMarketWire.com
|
Burford has recorded what it claims to be its 'best year for portfolio performance', with the highest ever capital provision net realised gains up 42% to $182 million.
In its final audited financial results for the 12 months ended December 31, 2020, the group saw large realised gains in its managed funds, with capital provision-direct income reaching $508 million.
The company generated $1 billion in cash receipts across the group and $519 million for Burford-only.
The dividend has been restored to its pre-pandemic level of 12.5c per share. A full dividend will be paid in June 2021 despite not paying an interim dividend in December 2020, subject to shareholder approval
Burford's operating profit for the year was $249 million, down from $265 million in 2019, reflecting modestly higher general operating expenses consistent with ongoing growth strategy, current expenses of managing funds where performance fees should be earned in the future, and NYSE-listing and other equity-related costs.
Pre-tax profit for the period was $172 million, down from $212 million in 2019, impacted by a book tax charge of $37 million though cash taxes were only $11 million.
At 1:29pm: (LON:BUR) Burford Capital Limited share price was 0p at 746p
Story provided by StockMarketWire.com
|
|
|
|
|
|
