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Scarborough profits down

Scarborough Building Society&#39s profits fell 11 per cent to £4.7m for the year to April 2001, from £5.3m the previous year.

The fall comes as Scarborough increased its total assets by 10 per cent to £1.2bn from £1.1bn over the same period.

Scarborough chief executive John Carrier says: “Our objective is to provide long term value and we have returned real financial benefits worth £6.4m to our members over the past three years.”

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