Return to profit for Skipton subsidiary HML

Third-party servicer HML swung back into profit in 2012 after suffering a £3.1m pre-tax loss the year before.

In the year ending 31 December 2012, the Skipton Building Society subsidiary made a pre-tax profit of £771,000.

The loss in 2011 was down to a restructuring of the business, a spokeswoman said at the time the 2011 results were published.

Revenue dipped 7.7 per cent from £66.7m in 2011 to £61.6m in 2012 and HML’s total assets fell from £28.2m in 2011 to £27.6m in 2012. Total liabilities fell from £7.1m to £5.7m in 2012.

Employee numbers fell from 1,231 in 2011 to 1,204 at the end of 2012.