Sign In  |  Register  |  About Walnut Creek Guide  |  Contact Us

Walnut Creek, CA
September 01, 2020 1:43pm
7-Day Forecast | Traffic
  • Search Hotels in Walnut Creek Guide

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Burford Capital Limited Announces Full Year Results 2021

BURFORD CAPITAL REPORTS FULL YEAR 2021 RESULTS; RECORD LEVELS OF BALANCE SHEET DEPLOYMENTS

GUERNSEY / ACCESSWIRE / March 29, 2022 / Burford Capital Limited, the leading global finance and asset management firm focused on law, today announces its financial results for the year ended December 31, 2021.1 The Burford Capital 2021 Annual Report, including financial statements (the "2021 Annual Report"), is available at the following link: http://www.rns-pdf.londonstockexchange.com/rns/4070G_1-2022-3-29.pdf or at Burford's website www.burfordcapital.com/shareholders. In addition, a new financial data supplement, as well as Burford's inaugural Sustainability Report for 2021, are available on our website at the same URL.

Hugh Steven Wilson, Chairman of Burford Capital, commented:

"Burford turned in an excellent 2021. This may seem odd to say as we report the first loss in our history, but that is a matter of timing. We wrote significant new core legal finance business in 2021. Even in an era of slower case progress, we generated significantly more cash than needed to cover all of our expenses. Burford ended the year with substantial liquidity and strong access to capital, and we recently announced our latest $360 million private fund."

Christopher Bogart, Chief Executive Officer of Burford Capital, commented:

"We are delighted with our strong new business performance in 2021. To write more than $1 billion of new commitments during a pandemic is a significant achievement. We deployed more capital than ever before from our balance sheet into assets with the potential to generate our highest returns and profits, auguring favorably for future capital provision income. Though it was a slower year for realized gains, contributing to our 2021 loss, there were few adverse developments to cause either realized or unrealized losses and the portfolio remains well positioned. The slow pace we are experiencing is a timing issue, not one affecting our view of the ultimate realizable value of the portfolio and its potential to create significant shareholder value, and no client has discontinued a single matter due to these delays. We are optimistic about the portfolio's future potential."

1 All figures in this announcement are audited and presented on a consolidated basis in accordance with the generally accepted accounting principles in the United States ("US GAAP"), unless otherwise stated. Definitions, reconciliations and information additional to those set forth in this announcement are available on the Burford Capital website and in the 2021 Annual Report.

Click on, or paste the following link into your web browser, to view the full announcement text:
http://www.rns-pdf.londonstockexchange.com/rns/4185G_1-2022-3-29.pdf

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Burford Capital Limited



View source version on accesswire.com:
https://www.accesswire.com/695057/Burford-Capital-Limited-Announces-Full-Year-Results-2021

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 WalnutCreekGuide.com & California Media Partners, LLC. All rights reserved.