Litigation funder Burford Capital has announced its strongest ever results, with profits for the first half of 2017 greater than the whole of 2016, driven by rising client demand.
Highlights from the financial results for the year ended 30 June 2017 included an increase in income by 130% to $175.5m (£133.5m), operating profit up by 151% to $155m, and profits after tax up by 170% over the previous year to $142.7m.
A total of 11 successful investments contributed to the results, including the sale of just 25% of one complex claim generating $100m in cash profit alone – more than five times the investment.
In the first half of 2017, investment income increased by 148% to $161.6m.
The interim report said cash generation of $173.7m from investments on balance sheet exceeded every previous half-year period.