November 23, 2017 / 7:36 AM / 2 months ago

BRIEF-Paragon Banking says FY pretax profit rose 1.1 pct

Nov 23 (Reuters) - Paragon Banking Group Plc:

* FY PRETAX PROFIT ROSE 1.1 PERCENT TO 144.8 MILLION STG

* FINAL DIVIDEND 11 PENCEPER SHARE

* TOTAL DIVIDEND 15.7 PENCEPER SHARE

* FY ‍UNDERLYING PROFITS ROSE BY 1.0% TO £145.2 MILLION DURING YEAR (2016: £143.8 MILLION)​

* ‍UK MORTGAGE MARKET IS CURRENTLY FINELY BALANCED AND THERE IS POTENTIAL FOR CONSIDERABLE VOLATILITY​

* ‍DATA WOULD INDICATE THAT MARKET HAS BEEN MORE ROBUST THAN SOME MEDIA REPORTS WOULD SUGGEST​

* ‍MORTGAGE TRANSACTIONS HAVE ALSO BEEN ON INCREASE, WITH ADVANCES INCREASING AT A SHARPER RATE THAN HOUSING TRANSACTIONS​

* FY ‍UNDERLYING PROFIT ROSE BY 1.0% TO £145.2 MILLION (2016: £143.8 MILLION)​

* ‍STRENGTH OF FIRST-TIME BUYER SEGMENT, SUPPORTED BY GOVERNMENT‘S HELP-TO-BUY SCHEME, IS CLEARLY BOLSTERING HOUSING TRANSACTIONS​

* ‍HOUSE PRICES ACROSS COUNTRY HAVE SEEN MODEST INCREASES IN PERIOD AND MARKET REMAINS STABLE​

* FY ‍EPS UP 6.4% TO 43.1P (2015: 40.5P) AND UNDERLYING ROTE IMPROVED TO 13.4% (2016: 12.9%)​

* ‍BUY-TO-LET MARKET IN PARTICULAR HAS BEEN DISRUPTED THROUGH A SERIES OF GOVERNMENT AND REGULATORY INTERVENTIONS​

* ‍FY TOTAL LENDING INCREASED 28.8% TO £1,853.4 MILLION​

* FY ‍BUY-TO-LET COMPLETIONS UP 20.6% TO £1,399.9 MILLION​

* ‍BOARD IS PROPOSING FINAL DIVIDEND OF 11.0 PENCE PER SHARE ​ Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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