5th Nov 2025 14:15
(Alliance News) - Burford Capital Ltd on Wednesday said it is "growing strongly" and "delivering attractive amounts of cash," as it emphasised an increase in new definitive commitments and deployments.
The London- and New York-based litigation finance provider said revenue fell 72% to USD69.8 million in the third quarter from USD249.1 million a year ago.
Notably, capital provision income was USD80.1 million, down 70% from USD271.0 million.
The company reported an unrealised loss, excluding YPF-related assets, of USD52.5 million in the third quarter, compared to a gain of USD75.7 million a year ago.
Unrealised gains from YPF-related assets fell 47% to USD55.4 million from USD104.1 million.
Burford swung to a pretax loss of USD16.5 million from a profit of USD169.3 million. Net loss attributable to shareholders was USD19.2 million, compared to a profit of USD135.6 million.
Finance costs increased 21% to USD41.5 million from USD34.4 million.
The company highlighted that new definitive commitments stood at USD637 million in the year to date, up 52% from USD420 million a year ago. Further, deployments were at USD329 million, up 20% from USD274 million.
Chief Executive Christopher Bogart said: "Burford is growing strongly, and above the level needed to double the size of the platform by 2030 as outlined at our recent investor day. The portfolio is also active and delivering attractive amounts of cash, with rolling three-year realisations at their highest level ever and 61 assets generating proceeds already this year. The [Argentine energy company] YPF [formerly Yacimientos Petroliferos Fiscales] matter is capturing a lot of attention, and we are bullish on its prospects. At the same time, the bulk of Burford's business doesn't involve YPF and is also flourishing and growing."
Burford shares fell 0.8% to 715.50 pence each on Wednesday afternoon in London.
By Tom Budszus, Alliance News slot editor
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