Litigation Capital Management Ltd - Sydney-based litigation financing - Expects annual revenue for financial year ended June 30 to be 25% higher than year prior year's AUD37.1 million, about GBP21.1 million, with adjusted operating profit to be 15% higher from AUD16.4 million.
Notes two material investments were moved into future financial periods.
"Whilst such delays are diminishing, they are still present in our portfolio. The financial performance of those investments will not be adversely impacted by the delay indeed it may be enhanced," it adds.
Stresses this is timing issue and not an indication of its current or future financial performance.
Says: "The degree of complexity in investments made by the company means that whilst LCM has extensive experience in the provision of disputes funding and finance products to the market, that accurate forward forecasting is exceptionally difficult to achieve."
Current stock price: 84.64 pence, down 8.7% in London on Friday
12-month change: down 31%
By Paul McGowan; paulmcgowan@alliancenews.com
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Litigation Cap. (LIT)