Highlights include
*Profit before tax up 8.2 per cent to £76.8 million (2004: £71.0 million)
*Operating profit (excluding goodwill)1 up 10.5 per cent to £72.7 million (2004: £65.8 million)
* Earnings per share up 11.0 per cent to 53.3p (2004: 48.0p)
*Dividend per share up 31.3 per cent to 12.6p (2004: 9.6p)
*Total loan assets2 up 9.7 per cent to £6,528.7 million (2004: £5,950.9 million)
Commenting on the results, Jonathan Perry, chairman of Paragon, said: “The Group has performed strongly in 2005, producing growth in profits and loan assets and further strengthening our franchise in our key lending market.
Paragon'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 and provides a strong base for further development going forward. 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.”
