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IMF Bentham Limited (ASX:IMF) is a financial services & investments firm located in Australia. IMF Bentham Limited has recently released its 1H FY19 results. For the half-year period, the total income for the Group decreased from $12.750 million for the half-year ended 31 December 2017 to $8.143 million for the half-year ended 31 December 2018. The majority of the net gain/(loss) on disposal of intangible assets was generated from 6 of the 10 cases which concluded during the half-year (3 of 4 cases in the corresponding period to 31 December 2017). Gross proceeds from litigation contracts were $15.310 million, a 69% fall over the pcp. The consolidated net loss from continuing operations post-tax for the half-year was $10.395 million as compared to a loss of $4.385 million reported as on 31 December 2017.
The Group's cash position was $233.325 million as at 31 December 2018 (30 June 2018: $160.231 million). Its investment in cases was $371.352 million at 31 December 2018, a 16% increase over the value at 30 June 2018 of $321.268 million. The Company has raised share capital during the period totalling $76.105 million as a result of issuing 26,600,000 shares to sophisticated and institutional investors at $2.80 per share on 31 October 2018 and 580,110 shares under its Share Purchase Plan at $2.80 per share on 16 November 2018.Â
The company had 91 permitted investments at various stages of funding, with a total potential aggregate Estimated Portfolio as on the 31st December 2018 valuing $7.6 billion (EPV).
The sum of Estimated Portfolio Value of the 80 unconditionally funded matters is approx. $6.4 billion. IMF has taken a specific stance to not to disclose the details about investments in the US until after the resolution of the cases, and all appeal avenues have been finalised.
The Group withdrew from one investment during the period (2017: nil cases) and continues to provide the ASX with a summary of the investments funded by IMF (Investment Portfolio Report).
Now, letâs have a glance at the companyâs stock performance and the return it has posted over the last few months. The stock is currently trading at a price of $3.12, down by 0.319 % during the dayâs trade with a market capitalisation of ~$640.43 Mn. The counter opened the day at $3.000, reached the dayâs high of $3.130 and touched the dayâs low of $2.900 with a daily volume of ~618,709. The stock has provided a Year Till Date return of 1.29% & also posted returns of 13%, 16.36% & 10.60% over the past six months, three & one-months period respectively. It had a 52-week high price of $ 3.380 and touched 52 weeks low of $ 2.230, with an average volume of 271,915 approximately.
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