Paragon remains strong
Specialist lending company Paragon has remained strong, in line with management expectations during the period since October 1st, the firm said.
Specialist lending company Paragon has remained strong, in line with management expectations during the period since October 1st, the firm said.
Paragon generated operating profits of £20.3m, compared with £18.1m for the corresponding period in the previous year, the increase largely the result of income generated from the group's new business developments.
Pre-tax profits were £20.8m for the period.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Redemptions across the loan books remained low and the credit performance across the portfolio continued to be strong.
At December 31st 2011 the pipeline of new business amounted to £95.1m.
In a statement the firm said: "During the period, the group made excellent progress, continuing the successful management of the existing and acquired books whilst developing the new lending business, completing its first securitisation since 2007 and securing attractive portfolio acquisition investment opportunities. The group will continue to pursue this strategy."
The share price fell 0.11% to 182.3p by 09:17.
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Carers retire with an average pension of just £6,750
A growing pensions gap shows carers retire with significantly less private pension income than the national average
-
8 of the best properties for sale with award-winning gardens
The best properties for sale with award-winning gardens – from a Victorian Gothic rectory in Hampshire, to a Georgian house in Kent with gardens designed by multiple Royal Chelsea Flower Show gold medallist Roger Platts