Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

BURFORD CAPITAL POSTS 25% PROFIT INCREASE IN FULL YEAR 2013 RESULTS
Chris Bogart

Published : , on

Dividend increase of 10% proposed

Burford Capital Limited (“Burford” or “the Company”), the world’s largest provider of investment capital and risk solutions for litigation, announces its financial results for the full year ended 31 December 2013.

Highlights

  • Chris Bogart

    Chris Bogart

    A 25% increase in Burford’s profit before tax for 2013 to $42.5 million (2012: $34.1 million)

  • Notable increases in income from both the litigation investment and insurance businesses: A 20% increase in litigation-related investment income reflecting continued portfolio activity and maturity; A 29% increase in insurance income during the period of Burford’s ownership reflecting strong performance of the historical book
  • Continued strong investment returns:  Since inception, 25 investments have generated $147 million in gross investment recoveries and $50 million net of invested capital (a 43% increase over 2012’s $35 million), producing a 52% net return on invested capital
  • Material increase in cash generation: in 2013, Burford generated $31.3 million of cash from the investment portfolio, an increase of 77% over 2012’s $17.7 million
  • Significant levels of activity in the insurance business, with more than $150 million in new business exposure written in 2013, exceeding 2011 and 2012 combined
  • Ongoing demand for Burford’s capital reflected in $62 million of new capital deployed in 2013 bringing commitments since inception to $419 million to 59 investments and current commitments to $264 million to 35 investments
  • First major step towards a more appropriate capital structure with the successful issue of $40 million in contingent preferred shares to improve capital utilisation and balance sheet flexibility
  • Active cost control, with operating costs declining by 10% over 2012
  • Dividend increase of 10% to 5.23¢ per share proposed on top of last year’s 30% increase

Sir Peter Middleton, Chairman of Burford, commented:

“Burford has achieved a significant amount in the past year, continuing to innovate and build the business in ways that sow the seeds for future growth.  We remain grateful for the continued support of our investors and look forward to the continued evolution of the business.”

Christopher Bogart, Chief Executive Officer of Burford, commented:

“2013 was another year of successful progress for Burford which saw continued significant growth in our levels of income and profits from both the litigation investment and insurance businesses and increased levels of activity throughout the business.  We are excited to be at the forefront of this rapidly maturing and evolving industry.”

Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post