"Together delivered another record performance in the year to 30 June 2017, with sustained growth in lending volumes and profitability"
Underlying profit before tax increased by 29.7% to £117.1m and statutory PBT increased from £90.3m in 2016 to £94.1m.
Mike McTighe, group chairman of Together, said: “Together delivered another record performance in the year to 30 June 2017, with sustained growth in lending volumes and profitability underpinned by continued investment for future growth and a corresponding increase in the scale, depth and diversity of our funding structure.
“The Group raised significant additional liquidity to support future growth, issuing £575m of senior secured notes and repaying £300m of existing notes, introducing a new £90m asset-backed facility and increasing and extending our revolving credit facility.
“While the performance of the UK economy has been mixed and Brexit uncertainties remain, with our proven business model, 43-year track record of profitability and significant growth opportunities, we believe that Together has an exciting future.”
Marc Goldberg, Together’s commercial CEO, commented: “This is another set of fantastic results and is a testament not only to the strength of our business model and our common sense approach to lending, but also to the hard work and dedication of our colleagues, who consistently strive to deliver the best outcomes for our customers. Today’s results highlight our position as a leader in the specialist lending sector, and we have exciting plans for continued growth as we move forward.”
Pete Ball, personal finance CEO of Together added: “In the past 12 months we have expanded our nationwide presence and enhanced our product range to ensure we can help even more customers to access the finance they need. We’re thrilled to see the positive results this is yielding, as evidenced by the growth in our loan book and our strong financial performance.”
