May 23, 2017 / 6:21 AM / 3 months ago

BRIEF-Paragon H1 pretax profit falls 0.1 pct to 69.4 million stg

May 23 (Reuters) - Paragon Group Of Companies Plc

* H1 pretax profit fell 0.1 percent to 69.4 million stg

* Interim dividend 4.7 penceper share

* Underlying profit increased by 1 pct to 70.1 million stg (2016 H1: 69.4 million stg), whilst absorbing 5.5 million stg of tier 2 bond costs

* Statutory profit before tax reduced by 0.1 pct to 69.4 million stg (2016 h1: 69.5 million stg)

* Paragon bank underlying profit grew to 14.2 million stg (2016 h1: loss of 0.8 million stg)

* EPS up by 7.3 pct to 20.5p (2016 h1: 19.1p)

* Return on tangible equity increased to 13.5 pct(2016 h1: 12.7 pct)

* Capital levels remain strong, with cet1 of 15.9 pct (2016 h1: 16.1 pct)

* Dividend up by 9.3 pct to 4.7p, reflecting group's confidence in its outlook

* New buy-to-let lending at 556.2 million stg (2016 h1: 823.6 million stg)

* Buy-To-Let lending pipeline up 111.7 stg to 742.3 million stg (2016 h1: 350.6 million stg)

* Non buy-to-let new business as a proportion of total group new business increased to 35.6 pct (2016 h1: 28.9 pct)

* Asset finance lending up strongly to 106.6 million stg (2016 h1: 57.7 million pct)

* buy-to-let pipeline has more than doubled across period and points to lending volumes for full year exceeding our original expectations

* Well positioned to exploit opportunities that will emerge from additional pra underwriting rules due later this year

* Whilst buy-to-let market, overall, is forecast to be subdued, we are confident of growing our market Source text for Eikon: Further company coverage:

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