Burford Reports Q1 Revenue of $1.72 Billion
Reports Q1 revenue ($1.72B) vs. $118,85M last year. "Burford has a multi-billion-dollar portfolio of litigation assets delivering substantial cash returns and the market-leading origination engine. Burford's business is robust. We have ample liquidity, with more than $700M of cash on hand, and have sight of around $280M in cash so far this year from the portfolio. While the YPF loss was disappointing and caused a very large non-cash charge to our quarterly earnings, there is no cash impact from that loss. Indeed, if YPF never pays another cent, we will still have generated $236M in cash proceeds and more than $100M in profit from the case - and we are optimistic about a positive arbitration outcome."
