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Pre-tax profits up by 15.4% at Paragon Group

Pre-tax profits are up by 15.4% the Paragon Group has revealed in its yearly results, ending September 30 2003.

Including the effect of acquisitions, profits grew from £46m in 2002 to £51.9m in 2003. Britannic Money was purchased for some £18.8m, which Paragon reports is now operating at a


The company says that the outlook for the current year was “attractive”, and that trading continues to remain strong.

Jonathan Perry, chairman of Paragon, says: “The year ended September 30 2003 was a period of significant development for the Group, with the strong organic growth of core business divisions being augmented by the acquisition of Britannic Money.

“The combined business provides a strong base for further development in a sector which has excellent long-term growth prospects.”


Paragon pipelines at record levels

Paragon Mortgages reveals in year end results that high application levels have pushed the number of loans in the pipeline to record levels. The company says that the net result has been that the business is well positioned for a strong start to the new financial year. Total advances by September 30 2003 were £781.3m, […]

Commercial First wins two prizes at NACFB&#39s 2004 gala awards

Commercial First has scooped two prizes at this year&#39s National Association of Commercial Finance Brokers gala awards. The lender was awarded specialist lender of the year and most successful new entrant to the market. Stephen Johnson, sales and marketing director at Commercial First, says: “These awards are a great testament to the hard work of […]

Consumers embarrassed about being overdrawn

Five out of ten consumers are embarrassed about being overdrawn and one in three would never tell their parents, research from Nationwide reveals. This is despite almost 40% of people being more comfortable about going overdrawn now than they were a decade ago. Stuart Bernau, Nationwide&#39s executive director, says: “It is interesting that so many […]

Enterprise offers service guarantee

Enterprise Homeloans, the exclusive packager for the Zurich Advice Network, is offering a &#39service guarantee&#39. Enterprise has provided full &#39case-ownership&#39 since September 1, meaning that the underwriter who provides the solution to the original enquiry is the same underwriter who deals with the application on receipt, and is always contactable via a direct dial number. […]

Guarantees in the retirement income market

Lorna Blyth, Royal London  Do guarantees benefit customers and, if so, when? To answer this conundrum we commissioned Millimans, a global actuarial consulting firm, to conduct an independent review of the UK retirement income market and whether guarantees really do offer customers better value for money. The brief The study was one of the most comprehensive undertaken […]


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