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PAG oldjoe1 26 Nov 2014

Re: FT Comment On PAG..... Emma Ann Hughes | Published Nov 25, 2014<b>Paragon buy-to-let completions up 82.5%</b>Buy-to-let completions at Paragon rose 82.5 per cent to £656.6m for the year to the end of 30 September 2014.Today (25 November), Paragon reported a lending total of £500,000 by Paragon Bank for the 12 months to the end of September, which commenced its buy-to-let operations during September 2014.The indexed loan-to-value of the overall buy-to-let portfolio stood at 71.7 per cent at 30 September 2014 compared with 78.4 per cent at the end of 2013.Annualised redemption rate on the total buy-to-let portfolio was 4.1 per cent in 2014 compared to 2.5 per cent in 2013, reflecting increased housing market activity.Paragon Mortgages maintains a significant presence for the group in this growing sector of the UK mortgage market, contributing £80.5m to underlying group profit, a 14.5 per cent increase.The aggregate new business pipeline stood at £414.8m at the year-end, 78.9 per cent above the level at 30 September 2013, underpinning strong growth rates into the new financial year.Nigel Terrington, chief executive of Paragon, said: “The past year has seen considerable progress in the group’s strategic plans and in the performance of its businesses. Significant progress has also been achieved in diversifying further the group’s funding sources.“In particular, the formation of Paragon Bank has provided us with the opportunity to diversify further both income streams and funding and we expect it to play an important role in the group’s future plans.“The group benefits from a strong capital position and I am pleased to announce a 25 per cent increase in the dividend, as well as an initial £50m share buy-back programme, as we seek to complement strong and sustainable growth with improving shareholder returns.”[email protected]

PAG oldjoe1 26 Nov 2014

FT Comment On PAG..... PAGFrom The FT......<b>Paragon buoyed by buy-to-let market</b>Emma DunkleyAuthor 26/11/2014Paragon Group, the specialist lender, said profits had reached a record level this year as the growth of the buy-to-let market in the UK gathered pace.The group said underlying pre-tax profits rose 18 per cent to £122m for the year ending September 30, up from £104m last year.Profits were buoyed by the group widening its distribution of buy-to-let loans across its Paragon Mortgages and Mortgage Trust brands, which helped spur an 82.5 per cent increase in buy-to-let completions to £656.6m.Nigel Terrington, chief executive, said there was “ongoing demand” for rented property and that Paragon was “in the thick of it”.“There are more people renting than in the past,” he said. “This has also been compounded by the Mortgage Market Review coming in. The likely reduction of available finance to homeowners pushes up more rental demand.”Savills, the estate agent, forecasts the UK private rental sector will grow to represent 24 per cent of total housing stock over the next five years, up from 18 per cent at present.Idem Capital, the specialist debt purchasing division of Paragon, also contributed positively to profit growth, increasing its investments net of debt by 89.3 per cent to £175.7m.Mr Terrington said large banks will increasingly offload their non-core divisions and that bid-offer spreads have narrowed on these assets because of a better funding environment, meaning non-core portfolios are now more likely to sell.Paragon’s profits would have been higher had it not been for a £6.4m loss as a result of costs associated with establishing its new bank, which launched in February.“But we’re not trying to challenge major UK banks; we’re a specialist lender,” said Mr Terrington. “We have no plans for branches or current accounts, as we focus on narrow areas where we think we can do things better than others.”The bank offers a range of savings products and loans for consumers and small businesses and was initially injected with £12.7m of capital from Paragon Group.Paragon bank started taking retail deposits in June and gathered £60.1m by the year-end.The group said its capital position remained strong, with a core tier one ratio of 19.7 per cent and a leverage ratio of 8.3 per cent.Paragon has also announced an initial £50m share buy-back programme to help improve shareholder returns, Mr Terrington said.Dividend payments for the year will increase 25 per cent to a total of 9p as a result of the profit increase, the group added.

FDL Kronom 26 Nov 2014

Depressed really not taking well the drop from today... takes weeks for the stock to go up... and every gain gets wiped out by a small negativity from the performance reports...The volume is also way too low to affect the price to this degree...

IXI Koifishman 26 Nov 2014

Re: Dead cheap -100% upside. Few shares so moves on trades of any size.

CLDN Ekati 26 Nov 2014

Re: Results Missed them ( and a gain of 50% ) some two years ago. Waiting for a ( substantial ) correction before stepping in.

TLPR Spain Fund 26 Nov 2014

Re: Placing to part fund PVM deal Just got out in time last Thursday. What now?.

ODX gretel 26 Nov 2014

Good H1 results today ....achieving 0.5p EPS in H1 despite the problems in Germany and some supply delays.The back orders falling into H2 for infectious diseases should mean an even brighter H2 given that food intolerance is booming. Forecasts of 1.2p EPS for the year look perfectly reasonable.ODX have £2.1m of cash, with relatively small long-term borrowings to offset, so should hopefully see no or minimal dilution over time - given the profitable core business - through to commercialisation of the Aids test and the allergy programme.

MWA Rogen83 26 Nov 2014

This is waiting to burst MMs snaffling shares as cheap as they can but this is only going one way and thats to 4p!

SIG Montyzuma 26 Nov 2014

Re: Anyone else invested here? Hi XedosYes I am still here. Seems like just you and me!......lucky us!As you say - just keeps on giving. Now that US is out of recession and UK looking that way too, I am not a seller. Think I will ride it some more.Monty

UEN woodcroft53 26 Nov 2014

Re: RNS If 10 to 12p would do you nicely why didn't you sell last month when it went above that - or did you only buy when it went back down the tubes? I want 20p for all the f'n heartache they have put me through over the years. 10 to 12p just aint gonna cut it.

PAG oldjoe1 26 Nov 2014

Re: PAG Broker Round Up.......... 26 Nov 2014 Paragon Group of... PAG Barclays Capital Overweight 407.45 406.90 - 445.00 Reiterates

BPTY Stuartyboy999 26 Nov 2014

Once AMAYA complete talks and t/ over BPTY this share will move so quickly.. I'm hopeful we will see another blue day.. having hearsay news is ok, but its only a short matter of time now to wait.. Just waiting on that 'ping' and that RNS will land!

DC oldjoe1 26 Nov 2014

Re: Can only be a BUY 26 Nov 2014 Dixons Carphone DC. Canaccord Genuity Buy 421.05 419.80 - 500.00 Initiates/Starts

DX fraine4 26 Nov 2014

Re: Added IC were very positive about DX prospects but since their recommend the share price has gone down hill ever since. Not sure if this is due to poor prospects at Royal Mail having an impact or whether it is the talk of RM pushing for the regulations on all delivery companies to be evened up. Perhaps Xmas deliveries will push the price back up again.

MWA Rogen83 26 Nov 2014

Re: arbitration Arbitration or arbitrage?