8th Nov 2024 10:26
Burford Capital Ltd - litigation finance provider with offices in London and New York - Net income halves to USD135.6 million in the third quarter of 2024 from USD272.5 million a year before, as total revenue declines by 32% to USD249.1 million from USD368.9 million. In the first nine months of the year, net income is USD159.5 million, down 69% from USD510.4 million in the same period of 2023, as total revenue falls by 43% to USD453.1 million from USD794.3 million. Burford says 2024 suffers in comparison with the positive impact of capital provision income in 2023. More positively, net realized gains are USD184.2 million in the first nine months, up 49% from 123.5 million a year before, and cash receipts are up 46% to USD555.5 million from USD379.7 million. Book value per share increases 5.9% to USD11.08 per share from USD10.46. "We are having a great year, as we enjoy the long-awaited momentum in the portfolio," says Chief Executive Officer Christopher Bogart. Read More
