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Paragon profits up 16 per cent

The Paragon Group has announced a 16 per cent pre-tax profit rise in 1998 to £25.1m from £21.6m.


Paragon says its total value of loans to customers rose to £1,379m at September 30 1998 from £1,095m at September 30 1997.


The total number of accounts under its management increased to 91,000 from 38,000 and total assets under management grew to £1,470m from £1,151m.


It says figures have risen sharply because of the acquisition of Universal Credit from Lloyds TSB in March and the steady growth of its main business divisions.

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