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Paragon Group of Companies Plc (PARA.L)

PARA.L on London Stock Exchange

24 Mar 2017
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-0.40 (-0.10%)
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Latest Key Developments (Source: Significant Developments)

Paragon Group says Q1 profit at 33.1 mln pounds
Friday, 27 Jan 2017 02:00am EST 

Paragon Group Of Companies Plc : Trading update . Underlying operating profits for quarter of £33.1 million were in line with management's expectations . Carry cost of group's subordinated bonds will dampen reported profits in early part of year prior to repayment of £110 million bond maturing in April 2017 . With total originations and investments of £380.7 million compared to £254.4 million in previous quarter . Throughout final months of 2016 buy-to-let market saw lenders tightening criteria ahead of pra underwriting changes which took full effect on 1 January 2017 . Paragon had implemented majority of these changes a year ago, in January 2016 . Group's pipeline continued to grow from its low point in summer . Too early to determine full extent of PRA changes on market, and further changes due later in year . Strong pipeline positions group to achieve its anticipated new business volumes for year . Idem capital had a strong trading period, with £95.4 million of gross investments . Following temporary withdrawal of vendors from market around eu referendum. IDEM Capital continues to see a healthy pipeline of opportunities .Continues to see progress in each of its operating divisions and remains confident in achieving its expectations for year..  Full Article

Paragon Group says to buy back shares worth up to 12.5 mln stg
Thursday, 24 Nov 2016 09:53am EST 

Paragon Group Of Companies Plc :Entered into irrevocable,non‐discretionary programme with UBS AG to repurchase amount of shares no greater than 12.5 mln stg.  Full Article

Lender Paragon to buy asset finance brokerage Premier Asset Finance
Monday, 3 Oct 2016 02:00am EDT 

Paragon Group Of Companies Plc : Further 12 million stg is payable over following five years, subject to performance conditions . Consideration is being paid from Paragon's existing cash resources . Acquisition of premier asset finance limited . Purchase of 10 pct of issued share capital in premier asset finance limited . Business will be acquired by Paragon Bank Plc's asset finance division, Paragon Bank Asset Finance Limited . Regulatory approval has been received for transaction .Initial consideration for purchase is 8.5 million stg, payable in cash.  Full Article

Paragon Group of Companies trading in line with expectations
Friday, 29 Jul 2016 02:00am EDT 

Paragon Group Of Companies Plc : In line with management's expectations . Pipeline at 30 June 2016 stood at £339.0 million compared to £350.6 million at start of quarter . Capital ratios remain strong, with its CET1 and leverage ratios standing at 16.2% and 6.7% respectively at end of June . There is potential for further disruption following referendum vote, although it is too early for scale of this to be determined . Q3 pretax profit rose 9 percent to 106.3 million stg . Trading update . Underlying operating profits (before fair value items and acquisition related costs) were £109.9 million, 12.1% higher . Group's loan portfolios have maintained their strong performance in credit, profit and in cash flow . Buy-To-Let lending for nine months to 30 June 2016 was £989.6 million, 21.2% higher . New lending levels slowed during Q3 to £166.0 million . Disruptions to market caused by combination of stamp duty changes and uncertainty in run up to referendum . Redemption rate reduced in Q3 and is now trending more in line with longer term expectations. .Expects to deliver profits for 2016 financial year in line with management's expectations.  Full Article

Paragon Group says to repurchase shares
Friday, 15 Jul 2016 12:39pm EDT 

Paragon Group Of Companies Plc :Announces it has commenced, through UBS Limited, an irrevocable, non-discretionary programme to purchase shares on its own behalf.  Full Article

Paragon Group of Companies PLC's Paragon Bank PLC acquires Five Arrows Leasing Group Limited
Friday, 2 Oct 2015 02:00am EDT 

Paragon Group of Companies PLC:Says its subsidiary company, Paragon Bank PLC has agreed to acquire the entire share capital of Five Arrows Leasing Group Limited for 117 million pounds.  Full Article

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UPDATE 1-UK lender Paragon says Q1 profit in line with its expectations

Jan 27 Lender Paragon Group of Companies said its first-quarter underlying operating profit was in line with its expectations, driven in part by high-margin business wins and cost control, despite regulatory changes and uncertainty due to Britain's vote to leave the European Union.