Juridica Investments posts increase in annual profits

15th Mar 2013 08:01

Corporate claims finance company Juridica Investments revealed a significant rise in annual profits as case activity grew.The company, which provides capital to businesses for the financing of corporate claims, said total cash profit from case activity rocketed 195% to $38.1m, compared to $12.9m the year earlier. Total comprehensive income attributable to equity owners increased 14% to $37.6m from $32.9mGross cash proceeds came to $38.4m, up 125% from $17.1m in 2011. Fully diluted earnings per share jumped to $0.35 from $0.31.Juridica - whose clients including Fortune 1000 companies, FT Global 500 businesses, inventors, universities, and the leading law firms that represent them - said an increase in return on its investments in cases drove results."The company saw significant activity in several of its investments, including final settlement of two cases, partial settlement of several cases with multiple defendants, four successful verdicts, and two judgments that were favourably affirmed on appeals," it said.The group expects to see activity increase in its portfolio over the next year, based on the confirmation of trial dates and final case decisions.RD