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Paragon reports 82% buy-to-let business boom

Paragon has released its 2006 annual report which shows that buy-to-let loan advances have increased by 82.2% to 3,038.3m.

This is up from 1,667.8m in 2005.

Loan advances increased by 68.5% to 3,412.6m up from 2,025.6m in 2005.

The increase in loan assets was by 29.1% to 8,426.6m on a statutory basis up from 6,528.7m in 2005.

The report also shows a 15.3% increase in profit before tax on a statutory basis to 82.8m up from 71.8m in 2005.

The lender’s earnings increased by 25.2%, per share on a statutory basis to 61.2p up from 48.9p in 2005.

It also reports a 34.9% increase in dividend per share to 17.0p, up from 12.6p in 2005.

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