Together's annual lending tops £1bn
Together has announced record results for the year ending 30 June 2016, with profit before tax at £90.3m, an increase of 20.8% on the previous year.
"Trading has remained strong; both in terms of financial performance and new origination levels, with credit quality remaining robust."
Annual lending for the year topped the £1bn mark for the first time, up 39.5% on prior year, whilst the loan book grew by £377.2m, currently standing at more than £1.8bn; an increase of 26.5%.
Mike McTighe, group chairman at Together, said: “These record results affirm the positive position the business is in. Trading has remained strong; both in terms of financial performance and new origination levels, with credit quality remaining robust. We have also made good progress against our strategic priorities in governance, including a number of key senior management appointments, IT and reporting.
“We believe we have a strong competitive advantage and are excited about the future. We are confident about the opportunities in the specialist finance sector and we have the financial capability to support our ambitious growth plans.”
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