LONDON (Alliance News) - Burford Capital Ltd, which provides capital to fund litigation, Tuesday said its first-half pretax profit nearly doubled year-on-year, increasing to USD23.8 million from USD12.4 million a year before, bolstered as stronger litigation investment income more than offset lower insurance income.
"We are pleased with Burford's start to the year and with the ongoing levels of growth and activity in the litigation finance industry generally. The future continues to look exciting for Burford and we look forward to continued progress as the year proceeds," Chief Executive Christopher Bogart said in a statement.
Burford was reporting on the six months ended June 30.
Burford shares were up 0.6% at 171.00 pence on Tuesday morning in London.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Burford Capital (BUR)