A Greater Manchester finance company today announced record lending growth as it loan book hit a new high of £3.7bn.
Specialist lender Together said the number of new loans and mortgages were up 19.4 per cent to £2bn, while profit before tax stood at £130.3m, a 7.1 per cent increase on the previous year.
The Cheadle-based group, which has been trading for 45 years, generated cash receipts of £1.6bn in the year to June 30, according to its latest full-year results.
This year’s growth came as the business increased to the scale and diversity of its funding by raising and re-financing more than £2bn over the past 12 months to support its future growth.
Chairman Mike McTighe said: “Together has delivered another so lid performance during the year, with strong lending volumes at low loan-to-values (LTVs) driving continued growth in the loan book and increased profitability and cash generation.
“While the 海角视频’s economic outlook remains uncertain with lead indicators continuing to be mixed and Brexit deadline approaching, we are continuing to see strong demand from customers.”
Marc Goldberg, commercial finance CEO said the launch of the group’s Together + platform for key specialist brokers and its new corporate team - set up to deliver commercial loans of £1m plus - were particular highlights.
He said: “We are proud to report another great set of results for Together as we again delivered record lending during the year.
Most Read
“Our stable year-on-year growth would not be possible without the hard work and dedication of all of our colleagues, who remain focused on delivering positive end to end journeys for our customers and intermediaries.”
Pete Ball, personal finance CEO, said this year’s growth was a great testament to the success of Together’s commitment to developing the group’s offering and widening distribution through more specialist brokers, mortgage networks and clubs.
He said: “Looking ahead, we will increasingly focus on innovation through transforming and automating our systems to deliver positive customer outcomes.
"We remain committed to proactively engaging with customers to enhance our service offering and product range, and to investing in our colleagues, whom I wish to thank for their ongoing commitment and hard work.”