Finalisation of the Centro and Transpacific Industries cases made 2011/12 a bumper year for litigation funder IMF. Yesterday, the company reported a 104 per cent increase in income and an 88 per cent increase in net profit.IMF's gross income from the Centro settlement was $62 million and from Transpacific $13 million. Total income was $117.8 million. Net profit was up from $22.9 million in 2010/11, to $43 million in the year to June.IMF executive director Clive Bowman said the company was expanding its business offshore. It has funded cases in New Zealand and South Africa, and in the past year established an office in New York. Bowman said the company would take things slowly in the US because it was on a steep learning curve.IMF is also looking at opportunities in Singapore and Hong Kong, which are emerging as international arbitration centres.One of the curious features of IMF's business model is that it is self-funded. It has $60 million of cash on its balance sheet.Bowman said that in the early days it could not get bank finance and had to fund itself on a case by case basis. Despite taking on 137 cases since listing in 2000, and losing only five, that funding model has continued.