1st Jun 2015 07:54
LONDON (Alliance News) - Burford Capital Ltd Monday said it has generated gross cash proceeds of USD61 million and a profit of USD36 million on a USD25 million litigation finance portfolio investment.
Burford said the investment was funded over a period of time beginning in 2012 and delivered a 144% return on invested capital and a 60% internal rate of return.
The company added that is has previously recognised USD10.1 million in unrealised gains from this investment which will result in around USD25.9 million in additional income being reported in the current financial period.
"We are delighted with this substantial result which underscores Burford's ability to deliver successful client solutions and uncorrelated financial returns. We look forward to delivering further successes as our investment portfolio continues to perform and the market for litigation financing continues to expand and evolve," Chief Executive Christopher Bogart said in a statement.
Shares in Burford were trading up 3.9% at 146.00 pence early Monday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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