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Paragon Fy Results Up 8.2%

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LONDON (AFX) - The Paragon Group Of Companies PLC, one of the UK's largest specialist lenders offering buy-to-let mortgages, personal loans, vehicle finance and retail finance, said it has made a strong start to the new financial year after it reported an 8.2 pct increase in pretax profit for the year to Sept 30 2005 to 76.8 mln stg from 71.0 mln a year earlier.

The board declared a final dividend of 7.4 pence making a total dividend of 12.6 pence, up 31 pct from the 9.6 pct paid in 2004.

Paragon said its total loan assets were up 9.7 pct to 6.5 bln stg at the end of September and buy-to-let loans were up 23.8 pct year-on-year to 5.03 bln.

Chairman Jonathan Perry said the group's strategy has enabled the buy-to-let business to move forward on a broad front at a time when many lenders have seen a reduction in volumes because of lower levels of market activity generally.

He said this provides a strong base for further development going forward.

Perry also said the case for investing in residential property remains sound and the group is well placed to benefit from the long term development of the buy-to-let market.

A good indication of the health of the BTL market but then perhaps no surprise, with FTBs at 9% somebody has to be taking up the slack.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
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