Burford Capital Stock Price, News & Analysis

Burford Capital Limited reported significant advancements for the six months ending June 30, 2021. New commitments exceeded $500 million, with nearly $400 million deployed. Portfolio returns rose to 95% ROIC, while realized losses decreased to 0.5%. However, the company anticipates a net loss of approximately $70 million due to one-time non-cash accruals. The liquidity position remains strong, exceeding $430 million. Burford is considering converting to US GAAP by year-end, which may lead to balance sheet adjustments. The interim results will be announced on September 9, 2021.

Burford Capital has released research highlighting CFOs' growing influence on corporate legal departments and the management of legal costs. Key findings reveal that 73% of financial officers have extensive recovery programs, with 75% of companies over $1 billion in revenue holding unenforced judgments valued between $20-$100 million. Notably, only 24% apply quantitative modeling to litigation decisions, indicating significant untapped potential for financial innovation in legal contexts. The report outlines a shift in recognizing pending litigations as valuable assets and the importance of integrating commercial strategies into legal departments.

Burford Capital announced it will release interim results for the six months ending June 30, 2021, on September 9, 2021, at 7am EDT. A conference call for investors will follow at 10am EDT. Burford, a leading global finance and asset management firm focused on law, is involved in litigation finance, risk management, and asset recovery. The company, publicly traded on NYSE and LSE under the ticker BUR, operates in major cities including New York and London. Key forward-looking statements highlight potential risks and uncertainties that may affect future performance.

Burford Capital Limited has appointed Kenneth A. Brause as its new Chief Financial Officer, effective May 3, 2021. Brause brings 35 years of financial services experience, having previously served as CFO at OnDeck Capital and held executive roles at CIT Group. His appointment follows the tenure of Jim Kilman, who led for nearly two years and will transition to a Senior Advisor role. CEO Christopher Bogart expressed confidence in Brause's expertise, particularly in enhancing Burford's growth and US capital markets presence.

Burford Capital, a leader in legal finance, announced significant team enhancements to meet rising client expectations. With a portfolio of $4.5 billion in legal finance assets, the firm has expanded its workforce to 136 employees, comprising 50% lawyers and a diverse team. Key promotions include John Lazar moving to London to develop UK and European markets, alongside Michael Redman and Daniel Hall as Managing Directors. New hires include Emily Tillett in Hong Kong and Reda Hicks in Houston, reflecting Burford's growth in international legal finance.

Burford Capital Limited reported its FY 2020 audited results, marking a historic year with significant portfolio performance improvements. Asset recoveries accelerated, with direct asset realizations soaring 72% to $608 million. The Burford-only capital provision net realized gains increased 42% to $182 million. The firm reported robust cash generation, with $1 billion in cash receipts and a liquidity increase of 63% to $336 million. Despite challenges, total income was only down 1%, and the dividend was restored to 12.5c per share, showcasing resilience amid the pandemic.

Burford Capital Limited announced the details for its earnings call scheduled for March 24, 2021, covering the twelve-month period ended December 31, 2020. Investors and analysts are encouraged to pre-register via the provided link to access the call at 10.00am EDT. A comprehensive presentation of the 2020 results will be available on the Burford Capital website. A replay of the earnings call will also be provided until April 7, 2021. Burford Capital is a leading global finance and asset management firm focused on law and is publicly traded on the NYSE (BUR).

Burford Capital reported a record year for portfolio performance in 2020, with total income exceeding $500 million for the first time. The company's concluded case return on invested capital (ROIC) reached an all-time high of 92%. Despite a 40% decline in new capital commitments due to the pandemic, Burford ended the year with $336 million in cash liquidity. The Board plans to recommend a full resumption of its dividend at 12.5 US cents per share, with a record date set for June 2021. Burford's strong liquidity position and asset realizations position it favorably moving forward.

Burford Capital Limited (LSE:BUR, NYSE:BUR) has announced key dates for its 2020 business update and full preliminary results. A brief business update will be released on February 17, 2021, while the full results are scheduled for March 24, 2021, followed by an earnings call for investors. This adjustment in the disclosure timing aims to cater to investors across North America and Europe. The company continues to focus on its litigation finance and asset management operations.