Omni Bridgeway has as much as $1 billion ready to invest in litigation opportunities, chief executive Andrew Saker said after the litigation funder reported a swing to profit.

Sydney-headquartered Omni Bridgeway on Tuesday reported a net profit of A$6.5 million ($4.5 million) for the 12 months to the end of June, a turnaround from last year’s A$18.4 million ($12.7 million) loss.