3rd Jul 2014 09:28
LONDON (Alliance News) - Burford Capital Ltd Thursday said that it generated USD41.9 million in cash from its investment portfolio in the first six months of its financial year, an increase of 94% over the comparable period a year ago.
In addition, Burford, which provides finance for litigation, said that 26 investments have generated since inception USD173.9 million in gross investment recoveries and USD67.0 million net of invested capital, producing a 63% net return on invested capital. This represents a USD27.0 million increase over the net position at the end of June 2013.
Burford also said that it committed USD62.0 million in new capital over the six months ended June 30 due to ongoing demand.
"Burford's performance continues to vindicate our approach to investment selection and the quality of our team," Chief Executive Christopher Bogart said in a statement.
Burford shares were Thursday quoted at 120.40 pence, up 0.8%.
By Samuel Agini; [email protected]; @samuelagini
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