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UK lender Paragon posts marginal decline in H1 profit
May 23, 2017 / 6:31 AM / 7 months ago

UK lender Paragon posts marginal decline in H1 profit

May 23 (Reuters) - British buy-to-let mortgage lender Paragon Group of Companies Plc reported a marginal fall in first-half profit, but said its buy-to-let pipeline had more than doubled, pointing to full-year lending volumes topping its expectations.

Paragon, which has been diversifying its business from its core buy-to-let mortgage market, made a pretax profit of 69.4 million pounds ($90.1 million)in the six months to the end of March, down from 69.5 million pounds the year before.

The company is paying an interim dividend of 4.7 pence per share, up 9.3 percent. ($1 = 0.7702 pounds) (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Sunil Nair)

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