Burford Capital Limited, a finance and investment management firm focused on law, has recorded its best ever results in the first six months of 2017 including a 151 pert cent increase in operating profit to a half-year record of USD155.0 million (H1 2016: USD61.7 million), and 170 pert cent increase in profit after tax to USD142.7 million (H1 2016: USD52.8 million).
Income during the period increased by 130 pert cent to USD175.5 million (H1 2016: USD76.2 million), driven by a 148 pert cent increase in investment income to USD161.6 million (H1 2016: USD65.3 million).
The firm has declared an Interim dividend of 3.05 cents (H1 2016: 2.67 cents), at the rate of one third of total 2016 dividend – an increase of 14 pert cent over last year’s interim dividend. The Interim dividend is payable on 15 November 2017 with record date of 20 October 2017
Sir Peter Middleton, Chairman of Burford Capital, says: “In just under eight years, Burford has grown from an GBP80 million startup to become the clear industry leader. In six months, we have committed almost half a billion dollars to new investments. We look forward to continuing to develop our core business while supporting all our clients with a broad range of financial solutions.”
Christopher Bogart, Chief Executive Officer of Burford, adds: “Burford has had an exceedingly active first half. Our continued strong growth has been driven by rising client demand as well as our ongoing investment in broadening our product offering and pioneering new markets. As the industry advances, we continue to innovate legal cost and risk management techniques while delivering strong investment returns for shareholders.”
