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Burford Capital Ltd - litigation finance provider with offices in London and New York - Net income halves to $135.6 million in the third quarter of 2024 from $272.5 million a year before, as total revenue declines by 32% to $249.1 million from $368.9 million. In the first nine months of the year, net income is $159.5 million, down 69% from $510.4 million in the same period of 2023, as total revenue falls by 43% to $453.1 million from $794.3 million. Burford says 2024 suffers in comparison with the positive impact of capital provision income in 2023. More positively, net realized gains are $184.2 million in the first nine months, up 49% from 123.5 million a year before, and cash receipts are up 46% to $555.5 million from $379.7 million. Book value per share increases 5.9% to $11.08 per share from $10.46. ‘We are having a great year, as we enjoy the long-awaited momentum in the portfolio,’ says Chief Executive Officer Christopher Bogart. Current stock price: 1,108.47 pence 12-month change: up 1.1% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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