View more on these topics

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.

Recommended

M&G profits up 12 per cent

Revenue grew by 8 per cent to £164m and operating profit increased to £58.2m from £51.9m, an increase of 12 per cent.Net Pep sales were £217m compared with £210m in 1997.Redemptions continue to hurt M&G&#39s business. There was a net outflow of £111m from its unit and investment trusts, although this was an improvement on […]

Consumers&#39 Association wants consumer panel included in bill

The Consumers&#39 Association is urging the Government to place the Financial Services Authority&#39s consumer panel on a statutory footing by devoting a clause to it the forthcoming Act.The Consumers&#39 Association put its proposal to the Treasury Select Committee inquiry into the Financial Services Authority and the Financial Services and Markets Bill.The association is concerned that […]

Interactive Investor aims to be sole provider of online share trading for IFAs

Interactive Investor is planning an expansion backed by £8m of venture capital to make it the sole provider of electronic share trading for all IFAs and stockbrokers by next summer.The company believes that it can steal a march over other on-line rivals as the only company offering such a service.It is currently running a pilot […]

Law firm warns on competition law

A leading law firm is urging businesses and financial institutions to prepare for the launch of the new Competition Act or face heavy fines.The main provisions of the Act do not come into force until March 2000 but law firm Cameron McKenna says nearly 60 per cent of British businesses are failing to prepare for […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment