By StockMarketWire.com, April 11, 2014
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Burford Capital posts a 25% increase in profit before tax for 20131 to $42.5m in the year to the end of December.
The group reports notable increases in income from both the litigation investment and insurance businesses with a 20% increase in litigation-related investment income reflecting continued portfolio activity and maturity and a 29% increase in insurance income during the period of Burford’s ownership reflecting strong performance of the historical book.
A dividend increase of 10% to 5.23¢ per share is proposed on top of last year’s 30% increase.
Chairman Sir Peter Middleton said: “Burford has achieved a significant amount in the past year, continuing to innovate and build the business in ways that sow the seeds for future growth. We remain grateful for the continued support of our investors and look forward to the continued evolution of the business.”
