RE: Genuinely confused17 Feb 2021 15:53
I'm very happy with todays RNS
but some will be concentrating the whole content of the announcement not least what's to follow
Thus, we expect to report the following results for 2020:
· Total income: $345-355 million on a consolidated basis (2019: $366 million), $340-350 million Burford-only (2019: $357 million)
o Excluding income from YPF-related assets, which accounted for over half of 2019's total, 2020 total income rose by $170-$180 million, or by 95-101%, on a consolidated basis and by $175-$185 million, or by 104-109%, on a Burford-only basis.
· Operating profit (consolidated and unadjusted Burford-only): $240-250 million (2019: $265 million)
o Operating profit was affected by modestly higher general operating expenses consistent with Burford's ongoing growth strategy, current expenses related to managing assets in funds where the related performance fees will occur in the future and expenses related to Burford's New York Stock Exchange listing and other equity-related matters
· Profit after tax (consolidated and unadjusted Burford-only): $160-170 million (2019: $212 million)
o Profit after tax was impacted by a large book tax charge, as discussed in our interim report that does not reflect the much lower level of cash taxes actually paid