Good morning all,
Some quick thoughts on a few announcements this morning.
Burford Capital (LON:BUR) is "the world's largest provider of investment capital and risk solutions for litigation". Interim results are out today:
http://www.investegate.co.uk/burford-capital--bur-/rns/half-year-results/201409040700087948Q/
The company is famous for being one of Neil Woodford's few AIM investments.
An 89% increase in Burford's profit before tax for the period to $18.2 million (June 2013: $9.7 million)*
Burford's income for the six months was $27.4 million, a 40% increase on the prior year (June 2013: $19.5 million)....
Continued strong investment returns: Since inception, 26 investments have generated $174 million in gross investment recoveries and $67 million net of invested capital, producing a 63% net return on invested capital. This represents a 67% increase, $27 million, over the net position at 30 June 2013**
Material increase in cash generation: Burford generated $42 million of cash from the investment portfolio in the period, an increase of 93% over the comparable 2013 period
Ongoing demand for Burford's capital reflected in $62 million of new capital committed in the period, a five-fold increase over the comparable 2013 period...
Introduction of a semi-annual dividend, with an interim dividend of 1.74¢ to be paid in December 2014***
so all very encouraging.
Burford Capital (LON:BUR) feels like the sort of business that won't be correlated with most other AIM shares, so perhaps a good diversifier for a portfolio? Stockopedia data shows expectations of a total of 8.7 cents of dividend for the year, coming in at a yield of around 4.3%.
Juridica Investments Closed Fund (LON:JIL) is a similar business that you might like to take a look at.
Restaurant chain Tasty (LON:TAST) have also reported impressive numbers. The company is currently going through an ambitious roll-out.
http://www.investegate.co.uk/tasty-plc--tast-/rns/half-yearly-report/201409040700077867Q/
Revenue up 26% to £13,794,000 (H1 2013 - £10,979,000)
Operating profit, before pre-opening costs, up 16% to £1,210,000 (H1 2013 - £1,045,000)
Pre-tax profit up 24% to £973,000 (H1 2013 - £787,000)
Four new sites opened in the period and three sites opened since…