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Operating profits up at Paragon

Specialist lender Paragon has announced a 13.4 per cent jump in operating profits to £35.5m from £31.3m for the year to September 30, 2000.

New lending has risen by 22 per cent to £510m from £419.7m and the cost to income ratio down to 40 per cent from 45 per cent.

It also announced operating expenses fell 1.3 per cent down to £30.6m from £31m.

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