4th Nov 2026 17:52
(Alliance News) - Burford Capital Ltd on Wednesday reported a return to profit in the third quarter, supported by higher unrealised gains across its litigation finance portfolio, although realised gains declined.
Shares in the London & New York-based litigation finance provider closed at 309.40 pence on Wednesday in London, jumping 9.9%.
Pretax profit for the three months ended September 30 was USD43.1 million, compared with a pretax loss of USD16.5 million a year earlier, while revenue more than doubled to USD146.9 million from USD69.8 million.
Burford explained the improvement in results was primarily driven by a USD123.0 million unrealised gain on capital provision assets, compared with a USD2.9 million gain in the third quarter of 2025. Burford Capital attributed the increase largely to positive developments across several unspecified cases.
However, net realised gains fell to USD25.0 million from USD70.8 million a year earlier, which the group said reflected fewer favourable case conclusions during the quarter.
Finance costs increased 25% to USD52.1 million from USD41.5 million, primarily reflecting interest on debt issued in 2025 and 2026
Burford Capital had USD463.8 million in cash and cash equivalents as at September 30, down 18% from USD566.4 million at the end of 2025.
Christopher Bogart, Burford Capital’s Chief Executive Officer, commented: "Burford had its strongest quarter this year, with robust portfolio activity and good cash generation."
The company said it did not expect geopolitical tensions or the Middle East conflict to have any significant impact on performance or financial results.
By Niall Holden, Alliance News reporter
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