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13 Jan 2015 07:00

RNS Number : 9104B
Burford Capital
13 January 2015
 



13 January 2015

BURFORD CAPITAL CONTINUES STRONG PERFORMANCE

 

Investment returns rise to 60% on invested capital

 

Cash receipts from investments double and new investment commitments triple

 

Burford Capital Limited ("Burford"), the world's largest provider of investment capital and risk solutions for litigation, intends to release its annual financial statements for the year ended 31 December 2014 on 18 March 2015.

 

In advance of that release, Burford provides the following investment portfolio performance update for the year ended 31 December 2014:

 

· Robust demand for Burford's capital reflected in $150 million of new investment commitments in 2014, more than three times 2013's level

 

· Continued strong investment returns: Since inception, 32 investments have generated $209 million in gross investment recoveries and $78 million net of invested capital, producing a 60% net return on invested capital 1

 

o This represents a 56% increase in net investment recoveries over the position at 31 December 2013 and a significant increase in net ROIC from its prior 52% level

 

· Material increase in cash generation: Burford generated $63 million of cash from the investment portfolio in 2014, an increase of 97% over 2013's level

 

Christopher Bogart, Burford's CEO, commented: "Burford's performance continues to validate our approach to investment selection and the quality of our team. Moreover, the volume of new commitments made during the last year shows clearly the market demand for litigation finance solutions and our leadership in meeting that demand."

 

For further information, please contact:

 

Macquarie Capital (Europe) Limited - NOMAD and Joint Broker

Ken Fleming +44 (0)20 3037 2000

Nicholas Harland

 

Espirito Santo Investment Bank - Joint Broker

John Llewellyn-Lloyd +44 (0)20 7456 9191

Harry Stockdale

 

RBC Capital Markets - Joint Broker

Oliver Hearsey +44 (0)20 7653 4000

 

Neustria Partners - Financial Communications for Burford Capital

Robert Bailhache +44 (0)20 3021 2580

robert.bailhache@neustriapartners.com

 

 

About Burford Capital

 

Burford Capital is the world's largest provider of investment capital and risk solutions for litigation with the largest and most experienced dedicated team in the industry. Burford is publicly traded on the London Stock Exchange's AIM market under the ticker symbol BUR. Burford provides a broad range of corporate finance and insurance solutions to lawyers and clients engaged in significant litigation and arbitration around the world.

 

For more information about Burford, visit www.burfordcapital.com.

 

 

[1] Term definitions and computation methodology are as set forth in Burford’s 2013 annual report.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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