Burford Capital (BUR): No need to appeal these results
The 2018 interims yet again gave record figures, with the headline figures showing income and profits after tax both up 17%. The stand-out figure, however, was cash generation, which was boosted by the sale of the Teinver claim and came in at $299m. The main driver behind this growth remains the litigation finance business, which accounted for almost 95% of revenue. Revenue in this business rose by 21% and profit after tax by 23% to $185.4m. New business remained strong, with additions to investments up 19% on 1H’17, and total commitments increasing by 10%. Strong realisations offset some of this, and invested capital grew by 7% over the period.
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