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Burford Capital delivers 27% growth in 2015 operating profit

October 20, 2019

82% increase in income from litigation finance

Burford Capital Limited (“Burford” or “the Company”), a leading global finance firm focused on law, announces its financial results for the year ended 31 December 2015.


  • Income increased by 26% to a record $103.0 million (2014: $82 million)
  • Driven by 82% increase in income from litigation-related investments to $86.9 million (2014: $47.8 million)
  • 27% increase in operating profit to $77.2 million (2014: $60.7 million) and 21% increase in profit after tax to $65.7 million (2014: $54.2 million), contributing to a 16% ROE
  • Strong growth in earnings per share, up 42% to 32¢ (2014: 22¢), supporting 14% increase in total dividend to 8.0¢ (2014: 7.0¢); dividend payable on 17 June 2016 with record date of 27 May 2016
  • Cumulative net return on invested capital for concluded investments rises to 70% (2014: 60%), for an IRR of 28% (2014: 24%)
  • Persistent high demand for Burford’s capital reflected in record new investment commitments of $206 million, up 35% on 2014, sowing seeds for future profits
  • Current investment portfolio stands above $627 million in commitments, across 54 different litigation investments (including $100 million portfolio investment in early 2016)
  • Strong organic cash generation, with $140 million in cash produced in 2015, more than double prior year

Sir Peter Middleton, Chairman of Burford, commented:

“We have experienced rapid growth over our six year history and 2015 was no exception. Our results continue to demonstrate the fundamentally uncorrelated nature of Burford’s business and our ability to generate cash from litigation finance investments without regard to economic or market conditions.”

Christopher Bogart, Chief Executive Officer of Burford, added:

“We are delighted to record income of over $100 million for the first time, a milestone reflecting continued strong growth in the diversifying worldwide litigation financing market, as well as our ongoing flexibility in meeting our clients’ needs. We see further opportunities to grow, while sustaining underwriting discipline and targeting attractive risk adjusted returns.”

For further information, please contact:

Macquarie Capital (Europe) Limited – NOMAD and Joint Broker


Ken Fleming
Nicholas Harland

+44 (0)20 3037 2000
Haitong Securities (UK) Limited – Joint Broker


John Riddell
Harry Stockdale

+44 (0)20 7456 9191
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


About Burford Capital

Burford Capital is the leading global finance and investment management firm focused on law. Its businesses include litigation finance and risk management, asset recovery and a wide range of legal finance and advisory activities. Burford is publicly traded on the London Stock Exchange, and it works with law firms and clients around the world from its principal offices in New York, London, Chicago, Washington, Singapore and Sydney.

For more information about Burford: www.burfordcapital.com