Burford’s interim results for 2016H1 produced another set of outstanding figures. The core litigation finance business was the driving force helping overall revenue grow to $76.2m, up from the $40.6m last year (which we considered then to be an exceptional result). Operating profit more than doubled to $61.7m despite investment in growing the capacity of the business. The new initiatives businesses also performed well, moving to a first profit of $2.9m after tax. Insurance has been closed to new business and delivered a profit of $3.4m after tax, though this was the only part of the business to perform below our expectations.
01 Aug 2016
Guilty of delivering another set of superb results
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Guilty of delivering another set of superb results
Burford Capital Limited (BUR:LON) | 1,218 292.3 2.0% | Mkt Cap: 2,663m
- Published:
01 Aug 2016 -
Author:
Brian Moretta -
Pages:
10
Burford’s interim results for 2016H1 produced another set of outstanding figures. The core litigation finance business was the driving force helping overall revenue grow to $76.2m, up from the $40.6m last year (which we considered then to be an exceptional result). Operating profit more than doubled to $61.7m despite investment in growing the capacity of the business. The new initiatives businesses also performed well, moving to a first profit of $2.9m after tax. Insurance has been closed to new business and delivered a profit of $3.4m after tax, though this was the only part of the business to perform below our expectations.